On the 10th local time, the U.S. Department of Labor announced the July consumer price index before the opening of in the U.S. stock market, namely CPI and core CPI data. The U.S. CPI rose 8.5% year-on-year, and the year-on-month growth rate declined, causing the outside world to see signs of high U.S. inflation. The market's expectations for Federal Reserve continue to be aggressive and interest rate hikes quickly cooled down, and the market's risk preference also rose accordingly, and the three major stock indexes in the New York stock market opened sharply higher. The Dow Jones Industrial Average rose 1.39% on the opening, the S&P 500 index rose 1.74% and the Nasdaq rose 2.34%. After the inflation data was released, the yields of US bonds for each period fell across the board, alleviating the long-term valuation pressure of high-growth stocks, especially technology stocks, and technology stocks generally rose significantly. Among the leading technology stocks, Tesla rose 4.5%, and Facebook parent company Meta rose 4.3%. Chip stocks that led the decline in for two consecutive trading days also generally rebounded, with Nvidia and AMD both rising more than 2%.
(Reporter Gao Yan)
Source: @CCTV Finance
