Stock market today: Meme rally roars as stocks climb in inflation countdown

Meme stocks soared again on Tuesday, as US equities rose in late afternoon trading. The moves follow comments from President Biden on new China tariffs as investors count down to Wednesday’s heavily anticipated look into consumer prices. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) jumped about 0.5% and 0.3%, respectively. The tech-heavy Nasdaq Composite (^IXIC) climbed about 0.8%. President Biden spoke Tuesday afternoon about the administration’s decision to announce a new wave of tariffs across an array of Chinese goods. The administration plans to raise duties on $18 billion in Chinese imports, which include electric vehicles, steel,…