US Inflation Report Casts Shadow Over Fed Rate Hike Bets

The US inflation report for July is out today, and markets are watching closely to see if it will confirm or contradict speculation of a Federal Reserve rate hike next month.

Annual headline and core inflation rates are expected to tick slightly lower, which could dampen expectations of a rate hike in September.

The report may also be influenced by the recent decline in oil prices, although the Brent crude price remains close to $90 per barrel due to ongoing tensions between Iran and other countries.

Despite the uncertainty surrounding inflation, US tech stocks had a strong day yesterday, with companies such as CoreWeave and Super Micro Computer beating earnings forecasts and boosting their stock prices.