Equity Alert
S&P, Nasdaq hit new highs Wed on better-than-view July CPI
This story was originally published at 08:10 IST on 14 August 2025
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Equity Alert: S&P, Nasdaq hit new highs Wed on better-than-view July CPI
MUMBAI--0746 IST--US benchmark indices closed higher Wednesday, with the S&P 500 and the NASDAQ Composite hitting fresh all-time closing highs for the second day. A better-than-expected inflation print for July boosted sentiment and raised hopes that the US Federal Reserve may ease interest rates.
Signs that US import tariffs have not fully penetrated into consumer prices came as a relief to investors this week as they await the impact of trade uncertainty on the economy. The CME Fedwatch tool showed a 93.8% probability of a 25-basis-point rate cut by the Fed in September. The central bank last lowered its key interest rates in December. Treasury Secretary Scott Bessent Wednesday said he thought an aggressive 50-bps rate cut was possible, given the recent weak employment numbers, Reuters reported.
However, the gains in the equity market were not as sharp as on Tuesday due to weakness in some information technology stocks. Investors likely booked profits in stocks such as Nvidia, Alphabet, and Microsoft. "Valuations are elevated. I do think, though, at the end of the day, the key will be the delivery of earnings, and that's what we're seeing," Reuters quoted Katherine Bordlemay, co-head of client portfolio management, fundamental equities at Goldman Sachs Asset Management, as saying.
Following are the closing levels of US indices overnight:
|
INDEX |
LAST LEVEL |
CHANGE IN % |
|
Dow Jones Industrial Average |
44922.27 |
1.04 |
|
NASDAQ Composite |
21713.14 |
0.14 |
|
S&P 500 |
6466.58 |
0.32 |
(Simran Rede)
US$1 = INR 87.44
End
Edited by Ashish Shirke
All prices from National Stock Exchange, unless otherwise specified.
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