The S&P 500 gained on Wednesday, buoyed by a subdued U.S. inflation report and strong performances in the technology sector, led by artificial intelligence companies CoreWeave and Super Micro Computer.
The broad market index increased by 0.2%, while the Nasdaq Composite rose by 0.5%. Meanwhile, the Dow Jones Industrial Average remained relatively unchanged.
July’s consumer price index met expectations, with a monthly increase of 0.1% and an annual inflation rate of 3.4%.
Excluding food and energy, core CPI grew 0.2% last month and 2.5% over the year. Both headline and core inflation rates edged slightly lower compared to June.
Source (CNBC)
