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AI stocks lift US equities as inflation data steadies sentiment
The S&P 500 closed at 7,748.5 and markets cut the odds of a September Fed rate hike to about 40% after softer CPI data.
US equities started Thursday on a slightly firmer footing after softer inflation data helped lift stocks and lower Treasury yields, according to Forexlive.
The S&P 500 ended Wednesday at 7,748.5, up 0.3%, while the Nasdaq rose 0.5% to 26,588.5 and the Dow fell 0.0%. The broader theme remained investors leaning into companies tied to AI infrastructure, including chips, data centers, and computing demand, even as not every stock participated.
Forexlive noted that July CPI rose 0.1% month over month and annual inflation slowed to 3.4% from 3.5%, factors that influence Federal Reserve thinking on whether rates should remain high or rise further. Markets now see about a 40% chance of a September rate hike, down from roughly 54% a week earlier.
Traders were also told to watch Thursday’s U.S. PPI report for producer price pressures, plus renewed risks from oil and geopolitics. The piece also cited gold pulling back slightly, with spot gold near $4,384 per ounce and December futures around $4,.
Latest closeGold $4,467.10 ▲1.9%|S&P 500 7,748.50 ▲0.3%|Nasdaq Comp. 26,588.49 ▲0.5%