Nasdaq pops over 2%, stocks higher on August inflation print

The Nasdaq Composite (^IXIC) pops by over 2.1% to end Wednesday's trading session in positive territory after August's Consumer Price Index (CPI) came in-line with inflation estimates. The S&P 500 (^GSPC) followed, rising 1.07%, while the Dow Jones Industrial Average (^DJI) closed the day 0.3% higher.

Market Domination Overtime's Julie Hyman recaps market index performances, joined by Alexandra Canal to examine single-day gains in the tech sector (XLK) and tech-heavy Nasdaq 100 (^NDX).

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Transcripción del vídeo

That's the closing bell on Wall Street, and now it is market domination over time, sponsored by tasty trade.

Alexander Canal is joining us today to recap the trading day.

But let's start with where the major averages ended the session.

All three in the green.

A very far cry from where we were this morning, where we saw stocks fall out of the gate, reaching the lows of the day just after 10 a.m. and then clawing back.

From there.

The Dow, the slowest of the three to reach the green up A 154 points, are about almost 4/10 of 1%.

The S and P 500 up 1%.

Um, it sort of crossed over a little bit.

Earlier in the day, we saw the shape of all three averages the same here after CP I, which came in pretty much in line with estimates.

But core CPI a little hotter than had been estimating, leading traders to say Well, the Fed is most likely to go a quarter percentage point cut next Wednesday, and so all of that initially disappointing, but then stocks coming back.

But it was really tech that uh, the stock stocks out of that slump here.

2.2% the final tally for the NASDAQ when all was said and done Now Alexander now has got a closer look at today's action.

Hey, hi, Julie.

And you said at the tech rally, is back tech far and away the best performing sector here, closing up more than 3% if we take a look at the intraday rise.

At one point we were in the red, But then we saw Tech make its way steadily in the green and followed comments made by NVIDIA.

CEO Jensen won NVIDIA CEO Jensen won.

He spoke about how janitor of Generative A. I has the potential to go beyond just data centres.

That really helped ease a lot of those investor concerns when it comes to a potential demand slow down and that really helped lead all of tech higher you're seeing in video.

Shares close up more than 8% a MD another chip stock closing up more than 5%.

We typically see these chip stocks move in with one another and then some other mag seven names Apple, Amazon, Google, meta, all closing up more than 1% Amazon.

They closing up nearly 3%.

Now moving ahead of today.

The focus is all going to be on the Federal Reserve what they decide to do when it comes to interest rates.

The market is currently pricing in a 25 basis point cut next week.

If we see anything other than that, I do expect some volatility.

But today, at least, it's all about that tech trade.

Julie.

Josh.

All right, thank you all.