Inflation cheer boosts Wall St ahead of Fed decision; Apple jumps

June 12 - U.S. stocks rose broadly on Wednesday, with the S&P 500 and the Nasdaq touching fresh record highs after softer inflation data lifted hopes for central bank rate cuts, while Apple overtook Microsoft to become the world's most valuable company.

Risk sentiment was boosted after a Labor Department report showed the Consumer Price Index was unchanged on a monthly basis in May, when it was expected to rise 0.1%. On an annual basis, inflation rose 3.3%, lower than economists' expectation of a 3.4% increase. Markets boosted expectations for a September start to rate cuts after the data, pricing in an over 70% chance, according to the CME's FedWatch tool, from 54% prior to the report.

Real-estate stocks , opens new tab rose to an over three-week high, while the small-cap Russell 2000 Index , opens new tab jumped 2.7 %. U.S.-listed shares of electric-vehicle maker Nio slipped 0.8% after the European Commission announced extra tariffs on imported Chinese EVS.

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