Inflation did the heavy lifting
Wall Street woke up and chose optimism. A softer-than-expected inflation report gave investors a reason to buy first and ask questions later, sending US stocks higher at the open on Wednesday.
Earnings season adds some sparkle
It wasn’t just the inflation data doing the talking. A new batch of corporate earnings helped keep the mood buoyant, with names like BlackRock and PayPal giving traders fresh things to chew on. When the tape gets a little squeamish, any whiff of good news can work like espresso.
Chips still can’t catch a break
One weird little twist: chip stocks slipped even after ASML showed up with upbeat guidance. So yes, the semiconductor trade is still acting like that friend who reads one encouraging text and immediately assumes the other person is ghosting.
Big picture
The market seems to be balancing two competing storylines: inflation is cooling enough to spark hope, but not so fast that everyone’s suddenly relaxing. For investors, that usually means every data point and earnings print matters a little more than usual—and the mood can flip fast.