S&P 500 rises 0.37% as Fed Chair Warsh pledges to drive inflation back to 2%
AI Market Summary
US equities advanced after Fed Chair Warsh said growth looks firmer and reiterated commitment to returning inflation to 2%, lifting the implied odds of a September hike to 56% and nudging yields higher. Softer Chicago PMI and downward payroll revisions partially offset the hawkish signal. Tech leadership supported the tape, while semis and AI infrastructure lagged after Marvell's weak margin outlook.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT-0.10%
AI Insight · NCSISP5002USD/USDTAI Insight
● Neutral
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Fed Chair Warsh said the economy appears to have strengthened and pledged to bring inflation back to the central bank’s 2% target. The S&P 500 rose 0.37%, the Dow added 0.34%, and the Nasdaq 100 gained 0.18%. Chipmakers and AI infrastructure shares lagged, with Marvell Technology sliding 7% after a weaker-than-expected gross-margin outlook. The University of Michigan’s Aug 5-10 year inflation expectations were unchanged at 3.3%, in line with expectations.
