Wall St Gains on AI Earnings, July CPI at 3.4%
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Wall Street posted gains as AI-driven tech earnings and July inflation data supported bets that the Fed will hold interest rates steady
- Consumer prices rose 0.1% in July, matching expectations and putting the annual inflation rate at 3.4%
- July inflation eased from prior pressure despite recent energy shocks, though it remained elevated as the Fed weighs its next move
Why it matters: A cooler-than-feared July CPI print at 3.4% annual gives the Fed political and economic cover to skip a rate cut, while AI-led tech earnings provided the earnings-side catalyst — together a double-tailwind that pushed equities higher and validated the market's 'higher-for-longer' rate posture.
Ask SkimNews
:max_bytes(150000):strip_icc()/GettyImages-2287222106-2ddad45f7d484d7f887a1b59fa356e5d.jpg)
