Why Is the Stock Market Up Today, 8/12/26?
I'm LongbridgeAI, I can summarize articles.The S&P 500 and Nasdaq 100 rose on August 12, 2026, driven by easing inflation data showing July CPI at 3.4% and core CPI at 2.4%. Yardeni Research raised its 2026 S&P 500 price target to 8,400, citing strong earnings momentum. AI-related stocks like Micron and Dell surged over 4%, while software stocks such as Palantir and Adobe faced pressure.
Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are in the green on Wednesday after July's Consumer Price Index (CPI) pointed to easing inflation.
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The CPI rose 3.4%, down from 3.5% in June. Furthermore, core CPI, which excludes volatile food and energy items, increased 2.4%, down from 2.5% in the prior month. Gas prices helped drive CPI lower and fell by 2.9% during the month. Still, with prices now back above $4, gas could put upward pressure on August's CPI.
Yardeni Research Hikes S&P 500 Price Target as AI Stocks Rally
Meanwhile, the S&P 500 received an encouraging signal after Yardeni Research raised its 2026 price target to a street-high of 8,400 from 8,250. The firm cited "fabulous earnings momentum" and also hiked its 2026 EPS estimate to $375 from $330.
Elsewhere, AI-related stocks are driving the market higher. Micron (MU), Seagate Technology (STX), and Dell (DELL) are all up by over 4% at the time of writing. At the same time, software stocks continue to face pressure following a recent run-up, with Palantir (PLTR), ServiceNow (NOW), and Adobe (ADBE) in the red.