S&P 500, Nasdaq Edge Higher as Tame CPI Lifts AI Hardware Stocks
Updated
Updated · Investor's Business Daily · Aug 12
S&P 500, Nasdaq Edge Higher as Tame CPI Lifts AI Hardware Stocks
3 articles · Updated · Investor's Business Daily · Aug 12
Summary
AI hardware and buildout shares led a modest market advance, with the S&P 500, Nasdaq and Russell 2000 all finishing higher on Wednesday.
Tame CPI data underpinned the move, extending the inflation-driven relief rally that had already eased fears of a near-term Federal Reserve rate hike.
Lumentum's strong earnings helped fuel gains across optical and AI infrastructure names, while Cisco Systems and Coherent headlined after-hours results.
After the close, Dow, S&P 500 and Nasdaq futures were little changed, suggesting investors were waiting for fresh catalysts after the CPI-led bounce.