IXIC: Nasdaq Composite Kicks Off Up 1% as Inflation Stays Cool at 3.2% for July

One more month with lowering price pressures is blowing away a lot of investor concerns. And eases the Fed’s work.

• The Nasdaq Composite IXIC gained roughly 1% out of the gate on Thursday after investors cheered the latest US inflation reading. The other two benchmarks were also buoyed higher by the bright sentiment with the S&P 500 opening to the upside by about half a percent. The Dow Jones moved higher in a similar fashion, up just over 0.5% early in the session.
• On Wednesday, Wall Street’s tech-heavy index was the biggest loser during regular trading. Large-cap technology players led the decline with Nvidia NVDA down 4.7% as semiconductors were out of fashion, apparently. Facebook parent Meta META, streaming giant Netflix NFLX, and EV mainstay Tesla TSLA each fell 2.0% or more.
• With the inflation report showing prices are moderating investors are hyped to step up their risky bets on stocks across the board. What’s more, it’s also making the Federal Reserve’s work a lot less and a lot easier, further solidifying hopes that they may actually nail the rare soft landing.