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U.S. July CPI broadly met expectations, with headline inflation rising 0.1% month over month and 3.4% year over year, while core CPI increased 0.2% monthly and 2.5% annually.
Asian shares mostly rose in early Thursday trading, as global market optimism continued on prospects for AI stocks and the semiconductor sector. Hong Kong's Hang Seng edged up nearly 0.1% to 25,453.45, while the Shanghai Composite gained 0.4% to 3,961.82. Several AI stocks reported better growth for the spring than analysts expected, while a report showed inflation across the United States was slightly less bad last month.
Contrary to warnings that the refund process could prove slow and messy, many companies appear to have received the money with remarkable speed. So far, over 40 S&P 500 companies have reported some $9.
Apple, Nike and FedEx are just some of the companies that are recovering big sums relatively quickly.
A softer inflation report that was in line with expectations helped boost stocks today, but overall, it was another fairly uneventful session after a quiet start to the week. The tech-heavy Nasdaq Composite finished up 0.5% today. Outside of the cooler inflation reading this morning, artificial intelligence stocks like Super Micro Computer and Lumentum helped drive stocks higher today, particularly in the Nasdaq, after turning in earnings performances that smashed expectations.
For much of the artificial intelligence boom, investors faced an uncomfortable trade-off. Big Tech continued to spend tens of billions of dollars on data centers, semiconductors, and cloud capacity as Wall Street waited for confirmation that investments would create enough income to justify the ...
<body><p>STORY: U.S. stocks closed mostly higher on Wednesday, with the Dow the only outlier, ending virtually flat, the S&P 500 gaining about a quarter of a percent, and the Nasdaq adding more than half a percent.</p><p>:: CoreWeave</p><p>Upbeat quarterly results from AI-related firms continued to soothe investor fears about massive capex spending.</p><p>:: CoreWeave</p><p>Shares of CoreWeave, for instance, surged 19% after the AI cloud company lifted its annual capital spending forecast and topped second-quarter earnings estimates.</p><p>Mike Mussio is president of FBB Capital Partners.</p><p>“We continue to see some of these names that sold off dramatically in June and part of July on just general AI over-investment, scare around that, they're actually reporting earnings, and the earnings are kind of saying, 'nothing really to see here.' So some of these same companies and sub-industries within the AI complex that sold off hard are bouncing dramatically. And that's helping lead the Nasdaq higher today.”</p><p>Data center operators also rose, with IREN gaining almost 10% and Applied Digital up nearly 5%.</p><p>:: Nebius Group</p><p>And shares of data center company Nebius Group jumped 34%, helped by second-quarter results that beat expectations.</p><p>Shares of Super Micro Computer surged 19% after the AI server maker forecast fiscal 2027 revenue above Wall Street expectations.</p><p>And chip makers gained, with Nvidia rising 3% and Micron Technology adding about 5%. </p><p>Meanwhile, data on Wednesday showed U.S. consumer prices barely increased in July as the cost of gasoline declined for a second straight month, further reducing expectations of an interest rate hike next month from the Federal Reserve.</p></body>
Core CPI, which excludes food and energy, advanced 0.2% last month, with the overall annual inflation rate landing at 3.4%.
AI stocks led the market Wednesday, fueled by Nebius, Lumentum, CoreWeave and Super Micro. Cisco and Coherent were earnings movers late.
US equity indexes ended mixed Wednesday amid stock gains by some major technology stocks and a four-
Tesla Inc. (NASDAQ:TSLA) and Palantir Technologies Inc. (NASDAQ:PLTR) fell Wednesday even as a benign July inflation report lifted the broader tech market and sent the odds of a September Federal Reserve rate hike to 33%. Headline CPI rose 0.1% in...
July inflation came in exactly as expected, and stocks rallied for about half an hour. Here's what actually moved the market after that.
Stocks Rise After July CPI Report. Why the AI Trade Is Back in Focus
By Avinash P and Purvi Agarwal Aug 12 (Reuters) - The S&P 500 and the Nasdaq rose on Wednesday as upbeat earnings from AI infrastructure firms boosted technology stocks, while largely in-line
The company says it will buy Neos Investments, which specializes in funds that use options-based strategies to generate income.
CoreWeave and Super Micro Computer earnings lifted AI-linked stocks, while cooling inflation reduced pressure on the Fed to raise rates
Aug 12 (Reuters) - The S&P 500 and the Nasdaq opened higher on Wednesday as investors assessed largely in-line inflation data, while upbeat earnings from some AI infrastructure companies provided
Stock Market Today: The Dow Jones index rises on a key CPI inflation report. Nvidia partner CoreWeave soars on earnings.
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US equity futures were edging higher pre-bell Wednesday as traders looked forward to the latest nati
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