US stocks remained firm on Thursday after gains were recorded led by technology companies on Wall Street in the previous session, boosted by the release of August consumer inflation data.
In Wednesday's trading, the Dow was up 0.31%, the S&P 500 was up 1.07% and the Nasdaq Composite was up 2.17%.
Semiconductor stocks including Nvidia (8.2%), AMD (4.9%), Broadcom (6.8%), SMCI (7.9%) and Taiwan Semiconductor (4.8%) led the gains.
Other megacap firms such as Apple (1.2%), Microsoft (2.1%) and Amazon (2.8%) also posted strong gains.
The move came as data showed annual US inflation fell to a three-year low, but core inflation came in higher than expected.
This sparked speculation that the Federal Reserve (Fed) will opt for a rate cut of 25 basis points at next week's meeting, with investors reducing the likelihood of a 50 basis point cut to just 15%.
Yesterday's presidential debate raised expectations for a Kamala Harris victory over Trump, boosting solar stocks while pressuring crypto firms.
