Stock market today: S&P 500 notches record high, Nasdaq rallies after soft inflation data
US stocks rose Thursday. The S&P 500 (^GSPC) hit a record high, up about 0.6%, and the Nasdaq Composite (^IXIC) gained about 0.8% after softer Producer Price Index data reduced September rate-hike odds. Cisco (CSCO) and Cerebras (CBRS) fell on earnings, while Applied Materials (AMAT) was set to report after a 190% prior-year gain.
How this was made
The 30-second read
Why it matters
Cooling inflation data is supportive for equities, but the article also highlights immediate, company-specific earnings reactions: CSCO and CBRS fell on earnings, while AMAT is an imminent after-close earnings catalyst.
Market read
Traders get a same-day macro tailwind (easing PPI/CPI) plus near-term single-name earnings catalysts (CSCO, CBRS, and AMAT after the close).
What to watch
The article notes policymakers still expect at least one rate hike by year-end, which can cap rallies even with cooler PPI/CPI; also, oil and geopolitics can quickly reverse the inflation narrative.
Background
The piece is a US market wrap citing softer-than-expected PPI and easing July CPI, which reduces September rate-hike bets.
Ticker impact
Cisco shares “tanked” after the company reported earnings, making the print a direct, tradable catalyst for CSCO.
Bearish bias for the next session(s) unless guidance or margins offset the initial reaction.
The article explicitly says CSCO “tanked” on Thursday morning after reporting earnings, implying a negative earnings reaction.
Cerebras shares “tanked” after reporting earnings, so CBRS is a direct earnings-driven risk event.
Likely continued weakness or choppy trading until investors digest results and any forward guidance.
The article states CBRS “tanked” on Thursday morning following its earnings report, indicating a negative surprise or guidance concern.
Applied Materials shares surged about 190% over the past year and it reports results after the close, making AMAT an imminent catalyst.
High event volatility after the close; direction depends on whether results/guidance beat or disappoint expectations.
The article does not provide the earnings numbers, only that AMAT reports after the close; the 190% figure is context, not a new earnings datapoint.
Market effects
Easing inflation prints support a lower-rate narrative that can lift duration-sensitive tech, while AI-earnings reactions highlight dispersion within semis/AI infrastructure.
Primarily US-focused risk sentiment, with index-level tailwinds from inflation easing.
Oil price weakness tied to geopolitical policy could feed into global inflation expectations and risk appetite.
Counterpoint
Index strength may be fragile if “soft” inflation data does not translate into a clear Fed path, leaving rate-hike uncertainty intact.
Key entities
- indexS&P 500
Posted a record high and rose about 0.6% on the day.
- indexNasdaq Composite
Rallied about 0.8% after soft inflation data.
- companyCisco
Shares “tanked” after reporting earnings.
- companyCerebras
Shares “tanked” after reporting earnings.
- companyApplied Materials
Reports results after the close; stock has gained about 190% over the past year.
