Wall Street rallies toward record highs amid cooling inflation worries

NEW YORK (AP) — The U.S. stock market rallied to the edge of its all-time high on Monday after easing oil prices helped calm Wall Street’s worries that inflation could get even worse.

The S&P 500 jumped 1.5% and is just 0.1% below its record set earlier this summer. It was coming off a frenetic July, where it swung up and down as oil prices shot higher because of the war with Iran, before ultimately ending the month just about where it started.

The Dow Jones Industrial Average, which measures a narrower slice of the U.S. stock market, climbed 693 points,...