Nasdaq surges, exiting bear market after CPI report
STORY: Wall Street rallied on Wednesday, with the Nasdaq surging nearly 3%, as the index climbed out of a bear market after having risen more than 20% off its lows in May.
It was a banner day for the other two major indexes, as the Dow rose more than a percent and a half and the S&P 500 ended more than 2 percent higher.
Data released Wednesday showed the consumer price index (CPI) - which measures U.S. inflation at the retail level - slowed more than expected in July, raising hopes that the Federal Reserve will become less aggressive on interest rates hikes.
Loreen Gilbert is CEO of WealthWise Financial.
"The markets are responding to the CPI number that came down. And while it's not down where it needs to be, the market is responding because inflation has peaked and it's coming down. Not only has the CPI number come down, but we're also seeing that consumer expectations of inflation are also coming down. And that's very important because consumer expectations can create the inflation to continue to spiral. But looking at those numbers that came out this week, the three year number has come down significantly to 3.2%. And that's very encouraging that we're seeing those numbers come down to more levels, the normalized numbers."
High-growth and mega-cap tech stocks, whose valuations are vulnerable to rising bond yields, surged as Treasury yields fell sharply across the board.
Semiconductor stocks also rebounded after a punishing start to the week after Nvidia and Micron Technologies warned of cooling demand for chips.
Shares of Meta Platforms soared after the Facebook-parent said it had raised $10 billion in its first-ever bond offering.
And Tesla rose nearly 4% after Elon Musk said he sold $6.9 billion worth of shares in the electric car company to finance a potential deal for Twitter if he loses a legal battle with the social media platform, shares of which also posted a solid gain.
相關影片推薦
- 1:37虎山巖金針花開了!假日估湧2萬人 聯外道塞爆華視影音12,084 次觀看・12 小時前
- 1:42【直擊】余天孫子女終於回家了!樂樂緊抱余筱萍 拉著余祥銓捨不得放娛樂星聞58,510 次觀看・9 小時前
- 4:13電動車舊電池怎麼處理?回收利用!德國之聲6,378 次觀看・9 小時前
- 1:07台鐵舊自強故障臨時換車! 旅客控「買座票變站票」東森新聞影音2,738 次觀看・9 小時前
- 1:41都更後變無家可歸! 住戶拿70萬怨:廁所都買不到東森新聞影音84,863 次觀看・1 天前
- 2:02停紅燈遭後車撞亡 業務員上班遇死劫獨留妻兒TVBS新聞網影音6,198 次觀看・1 天前
- 1:29殯葬大亨董娘車禍 新畫面曝肇事駕駛違規蛇行|#鏡新聞鏡新聞103,760 次觀看・1 天前
- 1:53近千筆罰單未繳清 休旅車違規上路被當場拔牌民視影音8,351 次觀看・6 小時前
- 1:45「刑事戰將」遭收押 同寢被告挑選背景單純|#鏡新聞鏡新聞1,027 次觀看・10 小時前
- 1:188噸全新大鋼牙上陣! 花蓮藍天麗池飯店開拆TVBS新聞網影音9,820 次觀看・5 小時前
熱門必看
- 13:05雪力神分析INF人!精彩到連唐老師都忘了講星座!?Ep.216-3唐綺陽談星室25,540 次觀看・4 天前
- 14:06到京都別只衝伏見稻荷神社 想變美、求戀愛運來這才內行Yahoo創作摩人4,240 次觀看・5 天前
- 11:30【淚之女婿】突變劇情被罵爆... 原來賢祐就是白血球?眼淚是海仁找回記憶關鍵?七大《女王》解析&主演幕後故事Ki笑人生20,085 次觀看・2 天前
- 8:05拿水沖香奈兒!?90萬小廢包沒人帶?! 2024精品新趨勢 永續環保最時尚!!Sherry袁曼軒2,944 次觀看・5 天前
- 7:40花200萬存0056後悔了?4年定期定額0050與0056投報大公開!SHIN LI20,765 次觀看・4 天前