Wall Street Ignites as Inflation Cools, Tech Stocks and IPOs Take Center Stage
Markets surge toward record highs as traders bet big on a September Fed rate cut
Today’s action on Wall Street is pulsating with optimism. The headline CPI for July came in at +2.7% year-over-year, just below expectations, fueling hopes that the Federal Reserve will cut rates in September. The Dow Jones jumped about 0.5% (~200 points), the Nasdaq and S&P 500 both climbed around 0.5%, with the Nasdaq flirting with record highs.
Beyond the indexes, several tickers are dominating conversations in trading rooms and social feeds alike. Intel (INTC) rose over 1%, buoyed by President Trump’s supportive comments about a meeting with the company’s CEO. In contrast, Celanese (CE) plunged 18%, reeling from weakened demand and a downbeat profit outlook.
The AI/data-center space saw CoreWeave (CRWV) dip nearly 4% ahead of earnings, while Circle Internet (CRCL), a stablecoin issuer, bucked the trend. Despite reporting a loss, it surprised on revenue and surged 15%.
Tesla (TSLA) continues its winning streak—up ~2.9% Monday, plus another 0.5% today—closing in on a technical buy point near $367.71. Its rally comes amid Musk’s brewing legal feud with Apple over perceived App Store favoritism toward OpenAI, and amid speculation over deeper xAI integration with Tesla.
Circularly, Consumer staples and broader tech also had their moments: Starbucks (SBUX) jumped 3%, On Semiconductor (ON) and Meta Platforms (META) each added 2.5%, while Marvell (MRVL) and Workday (WDAY) lagged.
In the premarket drumbeat, AST SpaceMobile (ASTS) soared 11.3%, On Holding (ONON) leapt 11.1%, American Homes 4 Rent (AMH), Circle Internet (CRCL), and Venture Global (VG) each gained over 7%. On the flip side, Celanese (CE) and Archer Aviation (ACHR) collapsed 15.2% and 9.5%, respectively.
This frenzy is all happening as markets brace for the Fed’s playbook. Futures barely budged amid mounting rate-cut bets—traders are now placing a 94% probability on a September move, up significantly from yesterday. The extended tariff truce with China until November 10 continues to ease trade-related fears.
Internationally, the FTSE 100 added 0.3%, lifted by Spirax’s 13% burst on robust orders, Bellway’s housing strength (+1.4%) and gains in Atalaya Mining (+7.1%). Meanwhile, India’s Sensex surged 350+ points and the Nifty50 cleared 24,650, propelled by IT sector strength and global rate-cut anticipation.
All of this paints a vivid picture of markets dancing between macro optimism and company-specific fireworks.
