Updated
Updated · Bloomberg · Jul 15Nasdaq 100 Rises 1.1% as Soft CPI Lifts Stocks and Bonds
3 articles · Updated · Bloomberg · Jul 15Summary
- A cooler-than-expected CPI reading pushed both stocks and bonds higher, easing fears that the Federal Reserve may need to raise interest rates soon.
- The Nasdaq 100 climbed 1.1% and the S&P 500 extended its July advance as traders looked past a renewed rise in oil prices and geopolitical worries.
- Big banks opened earnings season with solid results, while a rally in chipmakers added to risk appetite across Wall Street.
- IBM slid 25% after a sales miss, showing that company-specific setbacks still cut against the broader relief rally.
Insights
IBM just unveiled a revolutionary chip. Why did its stock then suffer its worst single-day drop in decades? As chipmakers rally, is IBM's 25% plunge a warning of a hidden crisis in the AI supply chain? AI is boosting markets, but can the Fed control inflation if the technology itself is driving up prices?