The S&P 500 closed at 7,798.99 Thursday, clearing 7,800 intraday for the first time. The Nasdaq gained 0.81% to 26,803.03, lifted by Meta, Micron, and Netflix. The Dow added 69.72 points, or 0.13%, to 53,839.99. July CPI came in below consensus for the third straight month, removing the Fed's main argument for holding rates elevated. Brent crude fell 2.1% to $87.07; WTI shed 2.0% to $81.25 — compressing cost pressure across energy-linked sectors simultaneously.
1
July CPI Data
July CPI decelerated for the third straight month, landing below Wall Street consensus. Core CPI reached its lowest reading since early 2023. Fed funds futures shifted within 30 minutes: the December contract moved 18 basis points lower, pricing in two cuts before year-end 2026. Oil's simultaneous 2% drop amplified the deflationary signal, putting rate-sensitive sectors first in line for the next move.
2
AI Earnings Drive Nasdaq
Meta, Micron, and Netflix each beat Q2 estimates, all citing accelerating AI-related capital expenditure above consensus targets. Micron's high-bandwidth memory division led its revenue beat. Netflix attributed subscriber retention gains in non-English markets to AI-driven localization tooling — a recurring theme across Q2 earnings calls this cycle.
3
Oil Price Retreat
Brent crude fell 2.1% to $87.07 and WTI shed 2.0% to $81.25, erasing the prior week's Iran-Hormuz disruption risk premium. Analysts attributed the drop to rising expectations of a US-Iran negotiated settlement plus an IEA 2026 global demand revision cutting consumption forecasts by 0.4 million barrels per day — the second downward revision since June.
Both pillars — cooling inflation and falling energy costs — are structurally favorable. Fundamentals are solid; Iran remains the near-term variable.
Sources
- ✓ TheStreet — Stock Market Today Aug 13 2026 S&P 500 sets new record clearing 7800 — 2026-08-13
- ✓ Washington Post — How major US stock indexes fared Thursday 8/13/2026 — 2026-08-13
- ✓ CNBC — S&P 500 closes at a new record buoyed by cooler-than-expected inflation data and falling oil prices — 2026-08-12
#SP500#CPI#FedPolicy#Markets#Nasdaq#AIearnings