Key Facts
• U.S. stock markets fell on August 11, with the S&P 500 losing momentum near record highs.
• Investors await the July Consumer Price Index (CPI) release on August 12, expected to show a 0.3% core inflation rise from June’s 0.2%.
• Federal Reserve’s potential September rate cut hinges on economic data, with markets pricing an 80% chance of a cut.
• Major tech stocks showed mixed performance: Tesla rose, while Apple declined.
• Nvidia agreed to allocate 15% of its AI accelerator H20 sales in China to the U.S., down from an initial 20% demand.
• U.S. Treasuries rose slightly, with the 10-year yield nearing a three-month low of 4.18%.
• The yen weakened 0.4% to 148.25 per dollar, while the Bloomberg Dollar Spot Index climbed.
• Oil prices remained near two-month lows, with WTI futures at $63.96 per barrel.
• Gold prices dropped 1.2% to $3,356.49 per ounce after President Trump announced no tariffs on gold imports.
• Upcoming U.S. economic data includes the Producer Price Index (PPI) on August 14 and retail sales on August 15.
Summary
U.S. stock markets declined on August 11 as investors exercised caution ahead of the July CPI release, which is expected to show a slight acceleration in core inflation. The Federal Reserve’s potential September rate cut remains uncertain, with markets pricing an 80% likelihood. Major tech stocks showed mixed results, and Nvidia reached a deal to allocate 15% of its AI accelerator H20 sales in China to the U.S. Treasury yields fell, while the yen weakened to 148.25 per dollar. Oil prices hovered near two-month lows, and gold prices dropped following President Trump’s announcement of no tariffs on gold imports. Key upcoming data includes the PPI on August 14 and retail sales on August 15.
