Wall Street nears record as AI stocks surge and inflation cools

On Wednesday 12 August 2026 the U.S. Equity market inched toward an all‑time high after a wave of AI‑related earnings beat expectations and the latest consumer‑price data showed a modest slowdown in price growth.

The S&P 500 rose 0.3 % for its first gain since topping a record on Friday, gaining 20.30 points to 7,748.50 according to the AP feed. The Dow Jones Industrial Average slipped 21 points, or less than 0.1 %, to 53,770.27, while the Nasdaq composite added roughly 0.5 % to finish at 26,588.49.

Media additions

Two pure‑play AI firms led the upside. Super Micro Computer, a maker of servers and related equipment, jumped about 19 % after reporting earnings per share that were 84 % above analysts’ forecasts and issuing profit and revenue guidance that likewise outpaced expectations. CoreWeave, a cloud‑based AI‑computing provider, surged 19.3 % on stronger‑than‑expected quarterly revenue and a narrower loss. Both companies highlighted accelerating demand from large enterprises seeking to deploy generative‑AI models.

CoreWeave’s performance fed directly into Nvidia’s rise; the chipmaker that supplies most AI workloads climbed 3 %, identified by the Globe and Mail as “the single strongest force lifting the S&P 500.”

Alongside the equity rally, Treasury yields eased after the Labor Department’s consumer‑price report showed year‑over‑year inflation at 3.4 % in July, a slight deceleration from the 3.5 % pace recorded in June. The 10‑year Treasury yield fell to 4.68 % from 4.70 % late Tuesday, yet it remains well above the 3.97 % level that prevailed before the war with Iran intensified oil market volatility.

Oil prices mirrored the mixed mood. Brent crude added a modest 0.1 % to $88.98 in the Globe and Mail account, while BNN Bloomberg noted a 0.2 % slip to $88.74. Arkansas Online reported a brief surge above $90 before the barrel settled at $88.91, up 1.4 % from the previous day. The swings follow the closure of the Strait of Hormuz after the United States and Israel struck Iran in late February, an episode that has kept global oil supplies tight and contributed to higher gasoline costs.

Higher fuel prices have already pushed the national average for a gallon of regular gasoline to $4.01, according to AAA, up sharply from the sub‑$3.14 level a year earlier. In Arkansas the price stood at $3.62.

The Globe and Mail and the AP both stressed that Fed officials are split on whether another rate hike is warranted. Traders, using CME Group data, reduced the probability of a September hike to around 40 %—down from a near‑even chance the day before. Both sources noted that a pause would give the central bank “more leeway” to let inflation ease without tightening credit.

Mortgage markets felt the ripple. Higher Treasury yields have already lifted long‑term mortgage rates to the highest level in a year, a pressure that depressed home‑builder stocks. D.R. Horton fell 3.3 % in the Globe and Mail version and 3.1 % in the BNN Bloomberg update; PulteGroup dropped 2.5 % and 2.3 % respectively. Builders FirstSource also slipped, down 3.6 % in one report and 3.9 % in another.

The broader market saw a divergence in other sectors. While AI names surged, the Arkansas Online piece highlighted a sharp 20.3 % decline in On Holding after the Swiss sneaker company reported better profit but warned of weaker revenue guidance. Meanwhile, the AP and Globe and Mail both recorded gains for Aramark (up 8.5 %) and Cardinal Health (up 1.3 %), showing that earnings beats continue to buoy equities even as oil and inflation concerns linger.

International markets added texture. South Korea’s Kospi jumped 3.7 % in both the Globe and Mail and BNN Bloomberg stories, driven by semiconductor giants Samsung Electronics and SK Hynix that supply AI chips. European indexes fell, and Asian markets were mixed, reflecting the global reach of the AI rally and the lingering uncertainty over oil supplies.

Looking ahead, the next U.S. CPI release is slated for Wednesday, the same day as this market session. Economists expect the figure to confirm the 3.4 % rate noted in the July report. If inflation remains below the Fed’s 2 %‑3 % target range, the central bank