04:17 PM EDT, 08/12/2025 (MT Newswires) -- US benchmark equity indexes rose Tuesday with the S&P 500 and the Nasdaq climbing to records after inflation in July accelerated less than expected on an annual basis, raising expectations for a September interest rate cut by the Federal Reserve.

* The US seasonally adjusted consumer price index rose 0.2% in July, matching Bloomberg's survey forecast and easing from June's 0.3% gain, the Bureau of Labor Statistics reported. Core CPI, excluding food and energy, increased 0.3% after a 0.2% rise in June. On an annual basis, headline CPI held at 2.7%, slightly below the 2.8% forecast, while core CPI climbed to 3.1% from 2.9%, the fastest pace since February.

* Traders raised their expectations for a September rate cut following the latest data with the CME FedWatch Tool showing odds of a 25-basis-point reduction increasing to 92% on Tuesday from 86% before the report. Bets on additional cuts in October and December also increased.

* September West Texas Intermediate crude oil fell $0.74 to settle at $63.22 per barrel, while October Brent crude, the global benchmark, was last seen up $0.47 to $66.17.

* Intel ( INTC ) shares rose 5.5% after Chief Executive Officer Lip-Bu Tan met with President Donald Trump, who said the meeting was "very interesting" and described Tan's career as "an amazing story," days after urging the CEO to resign.

* Cardinal Health ( CAH ) shares fell 7.2%. The company agreed to acquire urological health-care management company Solaris Health for $1.9 billion.