(Updates with index/price moves, macroeconomic data and geopolitical news from the first paragraph.)
US equity indexes traded mixed, with technology among sector leaders, after annual consumer inflation cooled to a four-month low in July while hopes faded for a quick reopening of the Strait of Hormuz.
The Nasdaq Composite rose 0.4% to 26,546.1 and the S&P 500 climbed 0.2% to 7,742.5 after midday Wednesday. The Dow Jones Industrial Average was steady at 53,824.6. Consumer discretionary and communication services led decliners.
Super Micro Computer's (SMCI) shares surged 13%, one of the top gainers on the S&P 500, after the company released an upbeat fiscal 2027 revenue outlook.
CoreWeave (CRWV) reported a Q2 beat and raised guidance, with inference demand driving upside despite higher near-term capital expenditures, Oppenheimer said in a note Wednesday. Its shares soared 18%, one of the top performers on the Nasdaq.
The consumer price index rose 3.4% last month from a year earlier, decelerating from 3.5% in June and marking the slowest pace of growth since March, data from the Bureau of Labor Statistics showed. The annual print matched the average forecast in a Bloomberg-compiled survey. Core inflation, which excludes volatile food and energy items, eased to 2.5%, also as expected, from June's 2.6%.
A raft of top military appointments by Iran's Supreme Leader Mojtaba Khamenei marks a shift to an "offensive doctrine," Mohammad Reza Naqdi, a general in the Islamic Revolutionary Guard Corps who advises the force's new commander, said in an interview on state TV late Tuesday, according to a Bloomberg report.
The front-month US West Texas Intermediate crude oil contract climbed 0.1% to $83.29 per barrel, and global benchmark North Sea Brent was steady at $88.93 per barrel.
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