Nasdaq Surges Amid AI Earnings Bump, Fed Rate Hike Odds Slip
Wall Street's main indexes rose on Wednesday as upbeat earnings from AI infrastructure firms boosted technology stocks, while July inflation data showed consumer prices increasing slightly. The Nasdaq outperformed its peers, gaining 0.64% to reach 26,614.17.
The S&P 500 and Dow Jones Industrial Average also saw gains, rising 0.33% to 7,753.74 and 0.21% to 53,902.38, respectively. The technology sector led the charge, with chipmakers like Nvidia, Micron Technology, and Broadcom surging.
CoreWeave, an AI cloud company, jumped 20% after lifting its annual capital spending forecast and beating second-quarter earnings estimates. Super Micro Computer topped the S&P 500 with a 17% climb after forecasting fiscal 2027 revenue above Wall Street expectations.