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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
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 8 SOURCES] U.S. producer prices for July increased at a slower rate than expected. www.moneycab.com · www.cnbce.com · www.nachrichten-heute.net · www.insider.gr · www.finanzen.at · +1 more
- [● 3 SOURCES] The Nasdaq 100 index increased by 1.20 percent to 30,101 points. www.moneycab.com
- [● 2 SOURCES] Birkenstock shares rose 16.5 percent following quarterly results and an increased outlook. www.moneycab.com
- [DISPUTED] Cisco shares fell 6.9 percent due to a disappointing outlook regarding artificial intelligence business. www.moneycab.com · www.insider.gr · www.finanzen.at · www.finanzen.ch
- [DISPUTED] The S&P 500 reached a record high of 7,808 points, increasing by 0.77 percent. www.moneycab.com
- [DISPUTED] The Dow Jones Industrial Average rose 0.39 percent to 53,978 points. www.moneycab.com
- [● 6 SOURCES] Workday shares surged nearly 18 percent following reports of potential takeover talks with Silver Lake. www.nachrichten-heute.net · www.insider.gr · www.finanzen.at · www.finanzen.ch · www.finnewsnetwork.com.au
- [● 3 SOURCES] Sandisk shares rose following a positive investor day presentation. www.cnbce.com · www.finanzen.at · www.finanzen.ch
- [● 10 SOURCES] The CME FedWatch tool indicates an increased market probability that the Federal Reserve will keep interest rates unchanged in September. www.capital.gr · www.cnbce.com · www.naftemporiki.gr · www.powergame.gr · www.newmoney.gr · +4 more
- [● 18 SOURCES] The Producer Price Index (PPI) for July remained unchanged on a monthly basis. www.naftemporiki.gr · www.powergame.gr · www.cnbce.com · www.nachrichten-heute.net · www.newmoney.gr · +12 more
- [● 6 SOURCES] The Nasdaq Composite rose 0.81% to close at 26,803.03 points. www.powergame.gr · www.benguturk.com · www.insider.gr · altonivel.com.mx · www.alainguillot.com
- [DISPUTED] The S&P 500 reached a new historical high, closing at 7,798.99 points. www.naftemporiki.gr · www.powergame.gr · www.cnbce.com · www.nachrichten-heute.net · www.insider.gr · +10 more