Markets Climb on Cooler Inflation and AI Optimism Ahead of CPI Data

Stocks pushed to new all-time highs Wednesday as a surprise drop in producer prices boosted expectations for a September Fed rate cut, with tech leading gains thanks to Oracle’s blowout earnings.

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Market Recap Week Ended August 11th

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August 13, 2023

Mixed results Fueled by inflation data and credit rating downgrades for several U.S. banks, the indexes saw ups and downs. Markets gained ground to start the week, but the S&P 500 and NASDAQ fell for a second week in a row, by Friday’s market close. The Dow slipped sharply on Tuesday but rebounded to finish slightly higher than last week.