Moderating July inflation boosts tech shares, with Nvidia up 2% and semiconductor stocks rallying in early trading.
US stocks opened higher Wednesday after the July Consumer Price Index showed inflation cooling, easing pressure on the Federal Reserve. The Nasdaq Composite led gains, supported by a 2% rise in Nvidia and broad strength in semiconductor stocks.
Technology was the top-performing sector, while energy lagged as oil prices slipped. Healthcare stocks pulled back after recent gains. Prior to the report, futures had signaled a mixed open amid volatile commodity markets.
Key movers included Micron and Supermicro, alongside private AI infrastructure plays like CoreWeave. The rally followed better-than-expected earnings from major tech firms driving AI demand.