Brendan McDermid/ReutersRecord intraday highs were set by the Dow Jones industrial average and S&P 500 on Wednesday.Core inflation was less than expected, at 0.3% in July, compared to a month ago.The Nasdaq Composite was also growing in popularity.Check out more stories from Insider's business page.After a popular measure for inflation slowed in July, the Dow Jones industrial average and S&P 500 set new intraday records. This alleviated concerns that the Federal Reserve would accelerate its monetary tightening efforts.According to the Bureau of Labor Statistics, the Consumer Price Index increased 0.5% last month. The gauge measures the price of various goods and services, and attempts to determine how much each month's prices change. This print shows a decrease in price growth from 0.9% seen in the previous month and could indicate that prices will soon return to their pre-crisis norm.Here are the US indexes shortly after Wednesday's 9:30 a.m. openingRead more: Laszlo Birinyi, an investment legend, shares his strategy for cashing in on a bullish trade in the stock market that has already earned him 250% this fiscal year. He also explains why he isn't worried about a correction.Coinbase shares rose around the markets after the crypto exchange reported second quarter earnings that exceeded analyst expectations. This was due to a surge in trading volumes. According to the company's quarterly report, ether was the most traded cryptocurrency on the exchange in the quarter, surpassing Bitcoin.Gold rose as high as 1.1% to $1,747.55 an ounceOil prices fell. West Texas Intermediate crude oil fell 2.4% to $66.67 per barrel. Brent crude oil, the international benchmark for oil, fell 2.2% to $69.07 per barrel at intraday lows.
