Dow jumps 200 points to new record after inflation report is not as bad as feared; European stocks close higher on U.S. inflation data 
Stocks rose on Wednesday after inflation jumped, but not by quite as much as investors feared when stripping out volatile food and energy prices. 
The Dow Jones Industrial Average gained about 200 points, or 0.55%, to reach a new intraday record. The 30-stock Dow was lifted by names like Caterpillar and Home Depot. The S&P 500 traded up 0.17% after reaching an intraday high earlier in the session. The technology-heavy Nasdaq Composite traded 0.3% lower, with most of the so-called FAANG names in the red. 
July’s Consumer Price Index released Wednesday showed prices jumped 5.4% since last year, compared to expectations of 5.3%, according to economists surveyed by Dow Jones. The government said CPI increased 0.5% in July on month-to-month basis. 
Oil prices dropped and then recovered after the White House called on OPEC and its allies to increase oil production to support the global recovery from the pandemic. 

ABN AMRO shares climbed 8.6% after swinging back to a second-quarter profit of 393 million euros ($460.32 million), beating analyst expectations. The Dutch bank also announced plans to resume dividend payments. 
Source: CNBC, Investing.com