S&P 500 Hits Record on Cool PPI; Cisco, Cerebras Dive
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- Dow and S&P 500 rose ahead of and after fresh inflation data, with the S&P 500 hitting a record following "more encouraging inflation data" per CNBC and IBD headlines
- Cisco and AI chipmaker Cerebras plunged on earnings, bucking the broader market's record-setting session (per IBD)
Why it matters: A cool July PPI reading (Axios) extends the disinflation trend that's been driving the rally, while Cisco's and Cerebras's earnings show that even on broad market record highs, individual AI-adjacent names can crater sharply on misses — participation across the AI theme is uneven.
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