Dow jumps 500 points, Nasdaq surges 2% as investors cheer lighter-than-expected inflation report; European stocks close 1% higher after cooler-than-expected U.S. inflation print 
Stocks rose sharply on Wednesday after a key inflation reading showed a better-than-expected slowdown for rising prices. 
The Dow Jones Industrial Average jumped 510 points, or roughly 1.6%. The S&P 500 gained 2.1% and hit its highest level since early May, while Nasdaq Composite rose 2.8%. 
The headline consumer price index for July rose 8.5% year over year, and was flat compared to June. Economists surveyed by Dow Jones were expecting increases of 8.7% and 0.2%, respectively. 
Meta is a best investment idea, according to Bank of America. The investment bank added the Facebook-parent company to its “US 1” list, a managed collection of 30 to 40 long-term investment picks, while removing Google-parent Alphabet. Shares of Meta are up 5.7%. 

The pan-European Stoxx 600 closed up by 1% provisionally, having earlier hovered around the flatline for much of the trading session. Retail shares climbed 3% to lead gains as almost all sectors and major bourses entered positive territory. 
Ahold Delhaize shares gained almost 8% in early trade after the Dutch retailer reported strong second-quarter earnings and shelved plans to spin off its non-food retailer Bol.com due to unfavorable market conditions. 
Vestas shares jumped nearly 9% after the Danish wind turbine company retained its guidance despite missing second-quarter earnings expectations, and said its price power was improving. 
Source: CNBC, Investing.com