Cisco and Cerebras Lead as U.S. Inflation Eases, Markets Close Mixed

Major U.S. indices closed mixed on Wednesday, July 27, with the Dow Jones Industrial Average slipping 0.04% to $53,770.27, while the S&P 500 gained 0.26% to $7,748.50 and the Nasdaq advanced 0.54% to $26,588.48.

The U.S. inflation rate eased in July, with the year-over-year reading coming in at 3.4%, down from June's 3.5%. Core inflation also slowed to 2.5% from 2.6%, matching market expectations.

Among the top stocks gaining attention from retail traders and investors were Cisco Systems Inc., SpaceX, Cerebras, Infleqtion, and Coherent. Cisco's stock rose by 2.86% to close at $123.88 after the company guided for fiscal first-quarter revenue of $18 billion to $18.2 billion and adjusted EPS of $1.32 to $1.34.

Cisco also expects revenue of $72.2 billion to $73.4 billion and adjusted EPS of $5.05 to $5.11 in fiscal 2027, both above analyst estimates. Cerebras Systems saw its stock jump 11.63% to $262.06, with a core revenue more than doubling to $210 million.