Tech Stocks Enjoy Rebound After US Inflation on Mixed Day for Markets
- On Tuesday, cooler July CPI of 3.4% annually pushed September Fed pause odds to 68%, lifting Nasdaq-100 futures nearly 1% and boosting growth stocks.
- Goldman Sachs Research recently estimated capital expenditure on the AI buildout will reach $581 billion this year in the U.S., with spending amounting to 1.8% of gross domestic product.
- CoreWeave surged 14% after reporting a $104 billion backlog and 112% revenue growth, while Foxconn beat estimates with 54% revenue growth to $29 billion.
- Minneapolis Fed President Neel Kashkari warned that data center investment is contributing to rising utility bills, with household electricity prices up 10.1% in the two years leading up to June.
- Boockvar questioned whether generative AI will significantly enhance the economy, saying, "To think that generative AI is going to bring that level of enhancement to the economy, relative to the internet, is tough.
120 Articles
120 Articles
Tech stocks enjoy rebound after US inflation on mixed day for markets
Tech firms led on a mixed day for stocks Thursday as investors push back into the sector after a summer rout, with confidence boosted by easing US interest rate hike fears after data showed inflation slowing last month.
S&P 500 And Nasdaq Climb As AI Stocks Rally On Strong Earnings And Mild Inflation Data
NEW YORK (VINnews)-The S&P 500 and Nasdaq Composite closed higher Wednesday, lifted by strong quarterly results from CoreWeave and other artificial intelligence infrastructure companies, while milder-than-feared inflation figures reinforced expectations that the Federal Reserve will keep interest rates unchanged at its September meeting. Join our WhatsApp group Subscribe to our Daily Roundup Email The S&P […]
Wall Street rises near a record as worries about inflation ease a bit
NEW YORK — Wall Street finished just shy of a record Wednesday after several AI stocks reported better growth for the spring than analysts expected, while a report showed inflation across the United States was slightly less bad last month.
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