Inflation battle is ‘absolutely’ done [Video]

Wall Street upThe S&P 500 closed higher for the fifth straight session buoyed by the latest inflation print. The Dow Jones Industrial Average climbed 242 points, while the Nasdaq Composite eked out a 0.03% gain after spending most of the session in negative territory. Meanwhile, the yield on the 10-year Treasury slipped, while U.S. oil prices dropped 1.6% after President Joe Biden said Iran may not attack Israel if a cease-fire deal is reached.

Cisco job cutsShares of Cisco rose more than 5% in extended trading after the network gear supplier said it would cut 7% of its global workforce. The company will take a $1 billion pretax charge to implement …