Forex
AI Stocks Fuel Wall Street Gains as ASX Falls
The Australian sharemarket fell on Thursday after some mixed company results, but Wall Street edged near its record due to AI stocks' growth and a report showing inflation in the US slowed last month.
The S&P/ASX 200 dropped 33.90 points or 0.4% to 9105 as of 10:50 am AEST, with eight out of its 11 industry sectors in the red.
On Wall Street, AI stocks led the way after strong profit reports from companies like Super Micro Computer and CoreWeave.
The US inflation rate slowed down to 3.4% last month, which is lower than June's 3.5%. This news may give the Federal Reserve more leeway to hold off on interest rate hikes.