US stocks rose amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.

U.S. stocks turned mixed in Wednesday afternoon trading, and one reason may have to do with concerns over the timeline of expected interest-rate cuts from the Federal Reserve. Fed-funds futures traders currently expect rate cutting to begin by October,

Scott Helfstein, head of investment strategy at Global X, added that there’s “little evidence” tariffs are causing a meaningful rise in inflation at this point, noting that shelter and energy services like electricity and piped gas remain primary drivers.