Jul 17 · 16:00 ET · 04:00+1 UTC+8After-hoursBenzinga · SNDK/WDC/IBM
Inflation Broke Lower, The AI Trade Broke with It: The Week on Wall Street
Technology stocks fell 5.9% this week and IBM posted its worst day on record, even as June inflation cooled to 3.5%. Here is what drove the AI selloff.
cpiaitechnologyriskPrice at publishQQQ 695.30 / -1.51%SPY 743.23 / -1.00%
U.S. Market Close | PPI Confirms Cooling Inflation, Major Indices Rise; Magnificent 7 Gains Strength, with Google, Amazon, and Meta Up Over 3%; Chinese-Related Stocks Rebound, Ali…
U.S. equity indices closed higher on Wednesday, with small caps outperforming large caps. Apple surged 4.01%. ASML Holding rose 2.23%, reporting Q2 results above expectations and raising full-year guidance. Micron plummeted 8.02%, SanDisk dropped sharply by 8…
cpioilsemiconductorsapplePrice at publishQQQ 718.53 / -0.16%SPY 755.03 / +0.43%
Wash: AI pushes up prices but not necessarily inflation; no inflation metric is precise, and Trump has not attempted to interfere with the Federal Reserve.
Worshe acknowledged that June CPI and PPI data showed improvement, but noted that inflation indicators do not perfectly reflect underlying inflationary conditions. He stated that one-off price changes do not necessarily lead to sustained inflation, and emphas…
cpifomcaisemiconductorsPrice at publishQQQ 716.17 / -0.49%SPY 753.56 / +0.23%
U.S. Stocks Close | CPI Posts First Negative Growth in Six Years, Indices Rebound Across the Board; Chip Stocks Surge, Micron and SanDisk Up 5%, NVIDIA Rises Over 4%; Goldman Sach…
On Tuesday, the S&P 500 closed up 0.38% at 7,543.59 points. The Nasdaq Composite rose 0.90%. The Nasdaq 100 gained 1.10%, closing at 29,586.287 points. Spot gold rebounded above the $4,000 level, briefly testing $4,100 during the session and moving back above…
cpioilsemiconductorsnvidiaPrice at publishQQQ 719.00 / +1.02%SPY 751.35 / +0.29%
Apple's Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure— Ryan Detrick Says 'This Is the Real World Stuff'
cpiaisemiconductorsapplePrice at publishQQQ 729.69 / +0.62%SPY 749.07 / +0.44%