Stocks rallied on Wednesday following a modest U.S. inflation report and strong gains in the technology sector, driven by artificial intelligence companies like CoreWeave and Super Micro Computer.
The S&P 500 increased by 0.5%, while the Nasdaq Composite rose by 0.9%. The Dow Jones Industrial Average gained 151 points, or 0.3%.
The July consumer price index aligned with expectations, showing a 0.1% rise for the month and an annual inflation rate of 3.4%.
Excluding food and energy, the core CPI increased by 0.2% last month and 2.5% over the year. Both headline and core inflation rates edged down slightly compared to June.
Source (CNBC)
