Free daily briefing on global business news.
CoreWeave and Super Micro Computer earnings lifted AI-linked stocks, while cooling inflation reduced pressure on the Fed to raise rates
Xinhua News Agency / Getty Images
U.S. stocks rose Wednesday after July's consumer price index came in line with expectations, easing concerns about further Federal Reserve rate increases. The S&P 500 opened in record territory and was up 0.3% in early trading, with the Nasdaq $NDAQ Composite advancing 0.7% and the Dow Jones Industrial Average ticking up 24 points, or 0.1%.
Headline consumer prices rose 0.1% month-over-month in July and 3.4% on an annual basis, down from 3.5% in June. The core measure, which removes food and energy prices from the calculation, came in at 0.2% for the month and 2.5% on an annual basis.
