Post-Market Recap — Wednesday, August 12, 2026

U.S. stocks finished mostly higher Wednesday after July CPI came in close to expectations, easing immediate concerns that the Federal Reserve will need to raise rates again in September. The S&P 500 rose 0.29% to a record 7,750.89, the Nasdaq gained 0.57%, and the Dow finished essentially flat, up 0.03%.

Technology led the market, particularly AI infrastructure and semiconductors. CoreWeave jumped about 19%, Nebius 28%, Super Micro nearly 18%, Nvidia 3% and Micron 7%, helping the semiconductor index gain roughly 3.4%. Strong earnings and forecasts from CoreWeave and Super Micro provided a confirmed catalyst; the broader AI rally reflected investors’ interpretation that data-center spending remains resilient.

Headline CPI rose just 0.1% in July and 3.4% year over year, while core inflation increased 0.2% and 2.5% annually. Treasury yields initially fell before recovering, with the 10-year near 4.67%, while the dollar was little changed to slightly firmer late in the session. Markets increased expectations that the Fed will hold rates steady in September, rather than confirming any imminent policy shift.

Oil eased, with Brent around $88.58 and WTI near $82.98, as softer demand forecasts offset continued concerns over stalled U.S.-Iran talks and Houthi attacks on shipping. Gold rose to a more than two-month high as the relatively mild inflation report reduced rate-hike expectations.

What traders should watch next: Thursday’s PPI inflation report and weekly jobless claims, additional earnings, and whether Wednesday’s AI-led strength broadens beyond technology. Oil and developments involving Iran and the Strait of Hormuz remain important potential drivers of inflation expectations and Treasury yields.