No surprises on inflation and new financing developments in the artificial intelligence trade drove the record-breaking action on Wall Street last week. The S & P 500 and Nasdaq both dropped modestly Friday but managed to post their third straight winning weeks. The S & P 500 rose above 7,800 during Thursday's session for the first time ever. It closed at a record:
Cooler inflation gives the Fed room to wait. Two closely watched inflation reports helped fuel the week's market gains by easing concerns that the Federal Reserve will need to raise interest rates at its September meeting. The consumer price index on Wednesday showed an increase of 0.1% in July, while the annual inflation rate eased to 3.4%:
Intel's $20 billion bet on its AI future. Intel's massive stock sale initially rattled investors, but was ultimately viewed as another sign of management's confidence in the company's AI opportunity:
Nvidia brings Wall Street into the AI buildout. Nvidia announced that it has partnered with six large asset managers on a $500 billion financing push designed to turn AI compute into an investable asset class:
