July CPI Cools In Line · AI Infrastructure Earnings Split: Cisco Optimistic, Cerebras Misses, SMCI Surges · Geopolitical Risks Lift Oil and Gold, Keep Bitcoin Near $63K

Market Overview and Macro Backdrop

• U.S. equities closed mostly higher on Wednesday, with major averages supported by a July consumer inflation report that matched expectations. The in-line CPI print eased concerns about an acceleration in prices but left Federal Reserve policy expectations intact, while investors continued to monitor Middle East supply risks. 原文
• The annual rate of U.S. consumer price growth slowed to 3.4% year-over-year in July, according to data released Wednesday. The report was broadly consistent with consensus and suggested that the disinflationary trend, though gradual, remains in place. 原文
• Wall Street’s reaction roundup underscored that the July CPI data contained no major surprises, leaving analysts to focus on the Fed’s next policy signals and the trajectory of services inflation into the autumn. 原文
• The U.S. government posted a $432.3 billion budget deficit in July, pushing the fiscal-year shortfall through July to $1.8 trillion. The widening deficit highlights the scale of federal borrowing and adds a meaningful macro consideration for rates markets. 原文
• Venezuela’s central bank reported monthly inflation accelerating to 19.9% in July from 13.8% in June, signaling persistent monetary instability in the country. 原文
• The U.S. dollar rebounded from its session low and ticked higher on Wednesday, as uncertainty over Hormuz and the July CPI kept currency markets cautious. Asian currencies generally treaded water, with oil-related tensions creating a mixed risk backdrop for regional FX. 原文

Equities, Ratings and Corporate Moves

• Fitch Ratings upgraded GE Vernova Inc. (NYSE:GEV) to 'A' on margin expansion, lifting the company’s Long-Term Issuer Default Rating and senior unsecured debt rating. The upgrade reflects improved profitability and a more resilient credit profile. 原文
• S&P Global Ratings downgraded Hertz Global Holdings Inc. (NYSE:HTZ) to 'CCC+' from 'B-', citing elevated refinancing concerns and potential liquidity pressure. 原文
• S&P Global Ratings also downgraded Skillsoft Corp. to 'CCC+' from 'B-', pointing to high leverage and refinancing risk. 原文
• Home Depot (NYSE: HD) shares traded at $347.70, down 1.9%, after the company disclosed that its chief executive is taking medical leave just six days before its fiscal second-quarter earnings release. The timing puts additional focus on management continuity ahead of the report. 原文
• SpaceX shares surged 11% after a major Wall Street endorsement of the company’s artificial-intelligence capabilities, with analysts highlighting Elon Musk’s “real-world AI” ambitions as a key value driver. 原文

Technology Earnings and AI Infrastructure

• Cisco Systems forecast fiscal 2027 revenue and profit above Wall Street estimates on Wednesday, betting that the AI boom will continue to drive networking and data-center demand. The outlook signals sustained enterprise investment in AI-ready infrastructure. 原文
• Super Micro Computer Inc. (NASDAQ: SMCI) shares rallied nearly 20% on Wednesday after the company issued full-year financial guidance that shattered expectations, reinforcing its position as a major AI server supplier. 原文
• CoreWeave shares jumped more than 15% on Tradegate after the cloud-computing company posted its fifth straight quarter of record revenue and raised guidance, reflecting continued demand for AI cloud capacity. 原文
• Coherent Corp. (NYSE: COHR) delivered a blowout fiscal fourth quarter, beating Wall Street’s top- and bottom-line estimates and issuing aggressive guidance. Despite the strong report, the shares fell about 5%, likely because expectations had been running high. 原文
• Cerebras Systems Inc. (NASDAQ: CBRS) tumbled 14% in after-hours trading Wednesday after the AI infrastructure company missed consensus earnings and revenue estimates. The sharp sell-off highlights the valuation sensitivity of AI chipmakers to execution missteps. 原文
• Google unveiled its Pixel 11 smartphone lineup on Wednesday, raising starting prices by $100 as surging memory costs pressure hardware economics. The increase illustrates how AI-era component demand is feeding through to consumer prices. 原文

Commodities and Cryptocurrency

• Oil prices swung between marginal gains and losses while holding near a two-week high, as the Strait of Hormuz remained closed and Houthi strikes continued. The unresolved U.S.-Iran standoff kept supply-side risk premiums elevated. 原文
• Gold prices rose about 1%, trading near $4,400 an ounce, as the in-line July CPI report and doubts about Hormuz kept the Fed rate path in focus and supported safe-haven demand. 原文
• Bitcoin was slightly lower, hovering around $63,000, as traders trimmed expectations for Federal Reserve rate cuts. The crypto market remained range-bound while awaiting further macro and liquidity signals. 原文

Corporate, Legal and Regulatory Developments

• Paramount’s chief legal officer said Wednesday that selling CNN is “on the table” as part of efforts to resolve a 12-state antitrust lawsuit. The comment signals a willingness to consider asset divestitures in settlement talks. 原文

Key Data and Market Outlook

• The key metrics to track into the next session: U.S. CPI at 3.4% year-over-year, gold near $4,400, oil near two-week highs, and Bitcoin around $63,000. Equity markets face a selective AI narrative, as evidenced by SMCI's surge versus Cerebras' after-hours slump.
• The near-term outlook hinges on Federal Reserve communications, Hormuz-related headlines, and the durability of AI-driven capex. Corporate earnings and ratings actions are likely to keep credit and growth concerns in focus.