Dow Jones futures rose slightly overnight, along with S&P 500 futures and Nasdaq futures.
X
The stock market rally cleared its June highs Wednesday as the CPI inflation report came in lighter than expected, easing Treasury yields and Fed rate hike fears. Headline CPI inflation tumbled to 3% from May’s 4%. Core CPI inflation slowed to 4.8% from 5.3%.
Nasdaq and S&P 500 hit fresh 52-week highs, while many stocks flashed buy signals.
Nvidia (NVDA) and Microsoft (MSFT), two giants capitalizing on artificial intelligence, flashed buy signals Wednesday. So did AI-exposed chipmakers Taiwan Semiconductor (TSM), Monolithic Power Systems (MPWR) and STMicroelectronics (STM). Other AI plays triggering buys included China internet giants Alibaba (BABA) and Baidu (BIDU) as well as Arista Networks (ANET).
Some cybersecurity plays fell hard as Microsoft expanded its security offerings this…
