Impact of CPI data
CPI data has an important impact on the Fed's interest rate cut. Although overall inflation is down, the core CPI is hot, which reduces the market's possibility of a 50 basis point first rate cut.
Market sentiment and expectations
Market concerns about the economy have led to a desire for certainty. After the release of CPI data, the market's expectations for the extent of the interest rate cut in September have decreased, but the expectations for the end-of-year rate cut remain unchanged.
Technology stocks lead the gains
The technology sector led the gains in the market, reflecting the investment attractiveness of technology stocks.
Nvidia's stock price rose
Nvidia's stock price rose sharply, mainly because CEO Huang Renxun provided positive information about the company's strong demand at the Goldman Sachs Technology Conference, alleviating market concerns about Nvidia's tight supply.
Changes in Apple and Google's cooperation
There are new changes in the cooperation model between Apple and Google. Apple's smart phones may become a new entrance for Google search, which may have an impact on the $20 billion annual contract between the two parties.
Summary
Although the core CPI is hot, the market's expectations for the Fed's interest rate cut are still strong. The leading gains in technology stocks show the market's confidence in the high-tech industry. Behind the rise in Nvidia's stock price is the market's optimistic expectations for the company's demand. Overall, the market is looking for more certainty signals and remains optimistic about the development prospects of the technology industry.