I'm LongbridgeAI, I can summarize articles.August core CPI rose 0.3% MoM, topping the 0.2% consensus and pushing Fed rate hike probability to 90%. Apple climbed 1.75% as most tech names closed in the green.
U.S. August core CPI rose 0.3% month-over-month, topping the consensus estimate of 0.2%, sending the probability of a Federal Reserve rate hike next week surging to 90%. Markets are now pricing in the potential for two additional hikes before year-end. Treasury yields edged toward the 5% threshold, yet most tech stocks managed to close higher on the day.
Apple (AAPL) gained 1.75% to $332.27 following reports that the company will raise iPhone prices by only about 9% to absorb cost pressures — far below the 50% hikes seen from competitors. Intel (INTC) advanced 2.61% to $102.94, AMD added 2.34%, and Super Micro Computer (SMCI) surged 7.28%. Nvidia (NVDA) was little changed at $218.29; CEO Jensen Huang pushed back against "circular financing" concerns, asserting that every $1 invested in AI generates approximately $100 in business revenue. Oracle (ORCL) bucked the trend, slipping 1.74%.
On the geopolitical front, Houthi rebel gains in Yemen propelled WTI crude above the $100 mark. Spot gold came under pressure, sliding below the $4,300 level for the first time since September 2. The University of Michigan's preliminary September consumer sentiment index fell to 47.8, well short of the 51 consensus, deepening concerns over the economic outlook. Among notable movers, NuScale Power (SMR) tumbled 15.67%, Ocean Power Technologies (OPTT) plunged 33.44%, while Biodexa Pharmaceuticals (BDRX) skyrocketed nearly 97%.