Briefing.com analyst Patrick O’Hare said the market was “pretty disposed to upside action.”
Trader Fred Demarco, right, and Specialist Michael Pistillo, left, work on the floor of the New York Stock Exchange, Friday, Aug 7, 2026, in New York. (Photo: AP/Yuki Iwamura)
13 Aug 2026 05:34AM
NEW YORK: Wall Street stocks mostly gained following slightly better US consumer pricing data but an uptick in Treasury bond yields suggested lingering unease about inflation.US consumer inflation slowed to 3.4 per cent in July from 3.5 per cent the previous month, in line with analyst forecasts. Analysts said the report likely gives the US Federal Reserve more latitude to hold off on imminent interest rate increases despite persistent inflation above Fed targets.Major indices spent most of the day in positive territory, propelled by a rally in semiconductor shares following strong earnings reports from CoreWeave and other artificial intelligence players.But yields on the 10- and 30-year US Treasury bonds climbed after the federal consumer price index (CPI) report, showing "market participants are still looking for inflation to continue," said Briefing.com analyst Patrick O'Hare.O'Hare said US Treasury data showing the July deficit growing to $432.3 billion, the highest monthly figure since 2021, as a reminder that of lofty bond supply.US markets on Thursday will digest July data for wholesale inflation, another key input to the Fed outlook.Still, gains by semiconductors and other companies indicates that "overall you still have a market pretty disposed to upside action," O'Hare said.While both the S&P 500 and Nasdaq rose, the Dow finished the session with a slight loss.
