Tech Stocks Drive Global Rally as Fed Rate Hike Bets Decline

Global markets saw a significant boost on August 12 as technology stocks lifted investor optimism. The Nasdaq and S&P 500 indices approached all-time highs, while investors welcomed July's US inflation data.

The numbers met market expectations, reducing the likelihood of a Federal Reserve interest rate hike in September to around 40%. A weaker US employment report also contributed to the Fed's cautious stance.

Among technology companies, shares of Super Micro Computer and CoreWeave rose by 19%, while Dell gained 10%.