In July, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3%, seasonally adjusted (SA); rising 1.8% over the year, not seasonally adjusted (NSA), according to the Bureau of Labor Statistics. The index for all items less food and energy rose 0.3% in July, SA; up 2.2% over the year, NSA.

Real average hourly earnings decreased 0.1 percent over the month in July, SA. Average hourly earnings increased 0.3% and CPI-U increased 0.3%. Real average weekly earnings decreased 0.3% over the month.

Tuesday, the Dow climbed 372.54 points (1.44%) to 26,279.91, the NASDAQ closed 152.95 points (1.95%) higher at 8,016.36, and the S&P 500 increased 42.57 points (1.48%) to 2,926.32. The Russell 2000 was up 16.30 points (1.09%) at 1,510.58, and the Wilshire 5000 gained 368.27 points (1.25%) to finish at 29,929.37.

The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.696%. The price of the 30-year Treasury bond decreased 5/32, bringing its yield up to 2.158%.

ON THIS DATE: In 1848, the Oregon Territory was established. In 1896, gold was discovered in Canada’s Yukon Territory, starting the California Gold Rush. In 1935, President Franklin D. Roosevelt signed the Social Security Act into law. In 1941, Congress appropriated the funds to construct the Pentagon—the new home of the U.S. War Department. In 1941, President Franklin Roosevelt and British Prime Minister Winston Churchill issued the Atlantic Charter. The charter was a statement of principles that renounced aggression. In 1945, it was announced by President Harry Truman that Japan had surrendered unconditionally. The surrender ended World War II. In 1953, the whiffle ball was invented. In 1959, the first meeting was held to organize the American Football League. In 1980, People for Ethical Treatment of Animals (PETA) was incorporated. In 1992, the U.S. announced that emergency airlifts of food to Somalia would begin. The action was being taken to stop mass deaths due to starvation. In 1995, Shannon Faulkner became the first female cadet in the history of The Citadel, South Carolina’s state military college. She quit the school less than a week later. In 2015, in Havana, Cuba, the U.S. Embassy was re-opened after being closed 54 years earlier.

WEDNESDAY WISDOM: “That money talks, I’ll not deny, I heard it once: It said, ‘Goodbye.’”—Richard Armour, American poet and author