That bell marks the end of regulation, Globent and Inspire Leadership Network, ringing the closing bell at the New York Stock Exchange, JPMorgan Asset Management, doing the honors at the NASDAQ, and stocks ending the day with some nice gains. The NASDAQ and S&P hitting all-time highs, small caps. The Russell, the big winner, up about 3%. Best day since May.

Just barely shy of 3% as a matter of fact. 10 out of 11 S&P sectors higher, communication services

and financials leading, staples the only sector lower. Another bullish day for Bitcoin and

Ether, ether adding to yesterday's gains, highest level versus the dollar in,

let's see, about four years almost.

The metals and mining ETF hitting the highest level since 2008, led by shares of Alcoa

and Cleveland Cliffs, the ETF, now up 40% this year, and a bullish day for transports.

Dow Jones Transportation Index, posting its best day since May with all components ending higher.

Well, that's the scorecard on Wall Street.

Welcome to Closing Bell overtime.

I'm Morgan Brennan, along with John Fort.

A couple earnings we're watching this hour, Kava and Corweave.

Corweave, part of a wave of IPOs that we've seen this year. A wave expected to

continue as we await pricing from bullish this hour, too. And we'll be joined by Tom Siebel of

C3AI. That stock getting crushed yesterday after preliminary results. What went wrong? We'll find out.

But let's begin with the markets once again rising to new highs, this time driven by CPI

and the hopes that slower inflation will lead to more Fed rate cuts. Well, Christina Parts Navalis is at the NASDAQ and she has more. Christina. Yeah, so no doubt the July core CPI came in largely as expected. But what that's doing, that's keeping the Fed on track, as you mentioned, for a September rate cut with markets now pricing in an over 90% probability.

That's why you saw the S&P 500 break above 64,000 for the first time.

But the real action was actually in small caps.

Don mentioned it.

The Russell 2000 showed that investors are really betting on the rate relief.

And small caps carry nearly triple the leverage of large caps.

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