Wall Street Rises on Stable Inflation and Tech Strength
U.S. stocks rose on Wall Street, supported by a moderate inflation report in the United States and strong gains in the technology and artificial intelligence sectors. The Dow Jones Industrial Average increased by 0.10%, the S&P 500 by 0.35%, and the Nasdaq by 0.75%. The July Consumer Price Index (CPI) showed a monthly increase of 0.1% and an annual rise of 3.4%, while core inflation grew by 0.2% month-over-month and 2.5% year-over-year, slightly lower than the previous month. Despite concerns related to inflation and oil prices exceeding $83 per barrel, the likelihood of the Federal Reserve keeping interest rates unchanged at the next meeting has increased, with the probability reaching approximately 58%. Additionally, corporate earnings and investments in artificial intelligence indicated stable demand, with shares of companies like "Coreyve," "Super Micro Computer," and "Nobios" rising, reflecting investor confidence in the technology sector.
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