US Stocks Rise on In-Line Inflation Data, Tech Shares Boosted by AI Earnings

The US stock market indexes opened higher on Wednesday after the Labor Department reported that consumer prices rose 3.4% year over year in July, matching economists' expectations.

This inflation data shifted market expectations for monetary policy, with traders increasing bets that the Federal Reserve will keep interest rates unchanged at its September meeting.

The Dow Jones Industrial Average gained 68 points while the S&P 500 climbed 0.35%, and the Nasdaq Composite rose by 0.59%.

Technology shares also supported broader market sentiment after several AI infrastructure companies reported stronger-than-expected results and optimistic outlooks, including CoreWeave which surged 20% after beating second-quarter earnings expectations and raising its annual capital expenditure forecast.