Wall Street Rises, Bolstered by AI Stocks and Muted CPI
US stock markets rose during Wednesday's trading session (August 12), supported by solid results from artificial intelligence (AI)-related companies and relatively muted CPI inflation data. The S&P 500 climbed 0.3%, re-testing record levels, while the Nasdaq 100 gained nearly 1% and the Dow Jones edged higher.
Positive sentiment was driven by AI and technology infrastructure stocks. CoreWeave surged 20% after reporting better-than-expected sales, while SMCI rose nearly 15% after its revenue forecast exceeded analysts' estimates.
Shares of hyperscalers and chipmakers also received a boost from Tencent's strong results. Additionally, news that Temasek had taken new positions in SK Hynix and Samsung further bolstered optimism regarding the semiconductor and AI infrastructure sectors.
These gains helped alleviate investor concerns regarding AI stock volatility seen earlier in the third quarter. Major tech stocks such as Nvidia, Oracle, and Amazon also rose, reflecting a resurgence in market interest in the AI theme.
In terms of market impact, relatively stable core CPI data helped ease pressure on the FOMC to raise interest rates immediately. This created a positive sentiment for stocks, particularly in the technology sector. However, the market remains watchful of energy supplies from the Middle East; should oil prices rise again, inflationary risks could resurface and cap Wall Street's rally. (asd)
Source: Newsmaker.id
