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[BUSINESS] · United States · 71 sources

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S&P 500 hits record high as US inflation cools

Wall Street saw significant gains on Thursday, with the S&P 500 reaching a new historical high of 7,798.99 points. This rally was driven by cooling inflation data, specifically a Producer Price Index (PPI) that remained unchanged in July, easing fears of aggressive interest rate hikes by the Federal Reserve. The Nasdaq Composite and Dow Jones Industrial Average also finished higher, supported by enthusiasm for artificial intelligence and technology stocks.

In corporate news, Workday shares surged 18 percent following reports of potential acquisition talks with private equity firm Silver Lake. Conversely, Cisco Systems shares fell over 8 percent despite meeting quarterly expectations. Additionally, S&P 500 companies reported record-high blended net profit margins of 16.9 percent for the second quarter.

Separately, Fitch Ratings affirmed the United States' long-term sovereign credit rating at ‘AA+’ with a stable outlook. While citing the nation's economic resilience and the dollar's reserve status, Fitch warned that high budget deficits and rising public debt could limit the rating. Fitch also projected US economic growth to slow to 1.9 percent in 2026 and 2027, with inflation expected to remain above the Federal Reserve's 2 percent target through 2026.

Entities

Birkenstock · Cisco · Dow Jones Industrial Average · Federal Reserve · Fitch Ratings · Nasdaq · Nasdaq 100 · Nasdaq Composite · S&P 500 · Silver Lake · Workday

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Fitch ABD'nin kredi notunu teyit etti [www.yenicaggazetesi.com]
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