The S&P 500 Index ($SPX) (SPY) on Wednesday rose +0.26%, the Dow Jones Industrial Average ($DOWI) (DIA) fell -0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.74%. September E-mini S&P futures (ESU26) rose +0.31%, and September E-mini Nasdaq futures (NQU26) rose +0.71%.
Stocks closed higher on Wednesday due to strength in AI and chip stocks after CoreWeave and Super Micro reported better-than-expected earnings. Stocks also received a lift from Wednesday’s favorable CPI report, which supported T-note prices and reduced the odds of a rate hike at the next FOMC meeting to 40% from 51% on Tuesday.
