NEW YORK (AP) — Wall Street got some relief Wednesday after an encouraging report said inflation slowed last month by more than expected, and the U.S. stock market is scraping back a chunk of its sharp losses from recent weeks.
The S&P 500 was 1.2% higher in early trading, a day after it briefly fell more than 10% below its all-time high set last month. The Dow Jones Industrial Average was up 145 points, or 0.4%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 2% higher.
Companies in the artificial-intelligence industry were leading the way, after recently getting crushed by worries their prices had gone too stratospheric in the market’s run to record after record in recent years. Nvidia climbed 6.4% to trim its loss for the year so far to 13.8%. Server-maker Super Micro Computer rallied 6.8%, and GE Vernova, which is helping to power AI data centers, rose 5.8%. ... more
