(CNBC) — Stocks resumed their inflation-driven rally on Tuesday after another report signaled that price increases could be slowing.
The broad market index advanced 1%, while the tech-heavy Nasdaq Composite gained 1.7%. The Dow Jones Industrial Average rose 73 points, or 0.2%.
Major indexes traded off their highs, with the Dow and S&P briefly dipping into the red, after crude oil prices moved higher suddenly. Oil prices later eased from those highs, with West Texas Intermediate futures last up 1.2% at $86.90 per barrel.
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