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2w ago

U.S. Stocks Hit Record Highs After July Inflation Slightly Eases

Falling headline inflation fueled speculation of a September Fed rate cut following hotter-than-expected core CPI.

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Overview

  • The S&P 500 climbed 1.1% to 6,445.76, the Dow rose about 483 points and the Nasdaq gained 1.4%, all marking fresh highs on August 12.
  • July’s headline consumer price index slowed to 2.7% year-over-year, below forecasts, while core CPI unexpectedly rose to 3.1%.
  • Investors saw the mixed inflation signal as granting the Federal Reserve leeway to cut rates in September even as the core CPI uptick added uncertainty.
  • BigBear.ai shares plunged roughly 29% in after-hours trading after reporting a $0.71 loss per share and revenue of $32.47 million, both missing estimates.
  • Tilray jumped about 42% on potential federal marijuana reclassification, Intel gained 3.7% after its CEO met President Trump and 180 Life Sciences surged 123% following a $156 million private Ethereum offering.