Stock Market Today, Aug. 13: Stocks Rise as Inflation Cools, Workday Soars 18% | The Motley Fool
TheS&P 500(^GSPC+0. 65%)gained 0. 65% to 7,799 after clearing 7,800 for the first time in intraday trading. TheNasdaqComposite(^IXIC+0. 81%)rose 0. 81% to 26,803, and theDow JonesIndustrial. . .
TheS&P 500(^GSPC+0. 65%)gained 0. 65% to 7,799 after clearing 7,800 for the first time in intraday trading. TheNasdaqComposite(^IXIC+0. 81%)rose 0. 81% to 26,803, and theDow JonesIndustrial Average(^DJI+0. 13%)edged up 0. 13% to 53,840. IndexS&P 500 IndexToday's Change(0. 65%)+50. 49Index Level7,798. 99Gold prices fell 1. 29% to $4,349. 85 as of U. S. market close, and the 10-Year Treasury yield fell 0. 04% to 4. 65%. Technologyand industrial stocks led all sectors, while consumer cyclical and communication services stocks finished lower. Today's biggest movesWorkdaysurged 18% on reports of buyout talks with private equity firm Silver Lake. Harmonic Incclimbed 9% on a quarterly earnings beat and raised guidance. Cerebras Systemsfell on disappointing earnings. Amazon. comshares slipped amid an intensifying legal dispute involving AI training, andJoby Aviationrecovered slightly — it fell yesterday after announcing a $500 million acquisition and a new equity facility. What this means for investorsThe S&P 500 and Nasdaq rose today on more positive inflation news. Wholesale inflation came in softer than expected, further reducing the pressure on the Federal Reserve to raise rates. The probability of a rate hike fell from 55% last week to under 35% today, per the CME FedWatch tool. Asartificial intelligence (AI)spending soars, Wall Street is divided on what stage the build-out has reached, with some arguing that it is still early days for this dramatic technological shift, and others saying the cycle is in its middle stages. That’s important for investors as they gauge which mega-tech firms will convert their huge capex into shareholder returns. Emma Newberyhas positions in Amazon. The Motley Fool has positions in and recommends Amazon and Workday. The Motley Fool has adisclosure policy.