Forex
Tech Shares Rise as US Inflation Data Eases Fed Rate Hike Concerns
US equities saw a mixed performance on Wednesday as the July inflation data came in line with expectations, providing some relief for the Federal Reserve from increasing interest rates.
The Consumer Price Index (CPI) rose to 3.4 percent in July, down from 3.5 percent in June, according to analyst forecasts.
Patrick J. O'Hare of Briefing.com noted that the CPI report did not spark new concerns about a potential rate hike at the September Federal Open Market Committee (FOMC) meeting.
The tech-heavy Nasdaq and S&P 500 indices saw gains, while the Dow was relatively unchanged, as some technology companies benefited from lower interest rates due to their significant investment in Artificial Intelligence (AI).