U.S. stocks closed higher on Wednesday as softer-than-expected inflation data reinforced expectations for additional Federal Reserve rate cuts this year. Treasury yields moved lower following another benign inflation report, helping lift equities. The Nasdaq led the major indices higher, while the Dow Jones Industrial Average and S&P 500 also posted solid gains. Under the surface, however, the market saw a sharp rotation, with several AI and semiconductor-related names under pressure while financials, large-cap technology, and consumer stocks attracted buyers.
Major Indices
- Dow Jones: +151.04 points (+0.29%) to 52,664.28
- S&P 500: +28.79 points (+0.38%) to 7,572.39
- Nasdaq Composite: +162.22 points (+0.62%) to 26,269.23
- Russell 2000: +11.50 points (+0.39%) to 2,976.26
Top Gainers
- PayPal (PYPL): +17.20%
- BlackRock (BLK): +6.63%
- Tencent ADR (TCEHY): +4.99%
- Alibaba ADR (BABA): +4.78%
- Roblox (RBLX): +4.77%
- Booking Holdings (BKNG): +4.55%
- Chewy (CHWY): +4.23%
- Lyft (LYFT): +4.10%
- Apple (AAPL): +4.01%
Top Losers
- Dell Technologies (DELL): -9.92%
- Western Digital (WDC): -8.83%
- Micron (MU): -8.15%
- SanDisk (SNDK): -8.13%
- Marvell (MRVL): -7.27%
- Corning (GLW): -7.05%
- Ciena (CIEN): -6.37%
- Arista Networks (ANET): -5.83%
- Ambarella (AMBA): -5.51%
- Chipotle Mexican Grill (CMG): -4.94%
- Cisco (CSCO): -4.54%
- Intel (INTC): -4.43%
Overall, the session reflected a positive tone driven by lower inflation and falling yields, but it also highlighted continued sector rotation as investors moved away from parts of the AI hardware and semiconductor space while favoring financials, select technology leaders, and consumer-related names. And
