US close: Stocks mixed following July CPI reading

(Sharecast News) - Major indices delivered a mixed performance on Wednesday as traders digested July's all-important inflation report.

At the close, the Dow Jones Industrial Average was down 0.04% at 53,770.27, while the S&P 500 advanced 0.26% to 7,748.50, and the Nasdaq Composite saw out the session 0.54% firmer at 26,588.49.

The Dow closed 21.58 points lower on Wednesday, extending losses recorded in the previous session.

Wednesday's primary focus was news that US inflation eased in July, with the headline consumer price index slipping to 3.4% yearonyear, down from 3.5% in June, as petrol prices fell, even as the economic impact of the conflict in Iran continued to filter through.

The softer headline figure was driven by another decline in energy costs as, despite pump prices surging later in the month amid heightened tensions with Iran, petrol was still 2.9% lower on average than in June. Heating oil and other energy components also contributed to the overall moderation. The Bureau of Labor Statistics also revealed that core CPI, which strips out volatile food and energy costs, edged down to 2.5% in July, down from 2.6% a month earlier.

July's CPI reading comes as the Federal Reserve faces renewed pressure to further tighten monetary policy, with inflation still elevated following months of disruption to energy supplies, tariffrelated price pressures and strong demand linked to the AI boom.

Elsewhere on the macro front, US mortgage applications rose 3.6% in the week ended 7 August, according to the Mortgage Bankers Association, the strongest increase in two months and a rebound after two consecutive declines. Last week's uptick followed a brief easing in benchmark mortgage rates as longterm Treasury yields pulled back from multidecade highs. Applications to refinance a mortgage, which are more sensitive to shortterm interest rate moves, climbed 5%, while applications to purchase a home increased 3%.

Still on data, the US government recorded a $432bn budget deficit in July, according to the US Treasury, widening sharply from a $291bn shortfall a year earlier and overshooting consensus forecasts for a $346bn gap. Federal outlays rose to $766bn from $630bn in July 2025, driven by $174bn in medicare spending, $141bn for social security, $104bn in net interest costs and $91bn for national defence. Receipts slipped to $334bn from $338bn a year earlier, with individual income taxes contributing $173bn and socialinsurance and retirement receipts totalling $139bn.

In the corporate space, technology business Cisco Systems delivered another strong set of numbers, reporting record quarterly and fullyear revenue and earnings as a networking supercycle continued to drive broadbased demand, while ticket reselling platform operator StubHub also posted solid growth, with gross merchandise sales rising 7% to $2.2bn, revenues up 12% to $446m and adjusted EBITDA increasing to $72.1m.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $100.95 4.42%

Merck & Co. Inc. (MRK) $132.92 1.92%

Cisco Systems Inc. (CSCO) $123.95 1.74%

Caterpillar Inc. (CAT) $855.60 1.62%

JP Morgan Chase & Co. (JPM) $365.18 0.90%

Unitedhealth Group Inc. (UNH) $405.59 0.90%

American Express Co. (AXP) $344.08 0.83%

McDonald's Corp. (MCD) $275.70 0.43%

3M Co. (MMM) $183.79 0.35%

Johnson & Johnson (JNJ) $260.86 0.29%

Dow Jones - Fallers

Home Depot Inc. (HD) $343.45 -2.85%

Salesforce.Com Inc. (CRM) $193.32 -2.27%

Apple Inc. (AAPL) $302.22 -2.27%

Dow Chemical Co. (DOW) $30.57 -2.16%

Nike Inc. (NKE) $40.51 -1.77%

Microsoft Corp. (MSFT) $492.48 -1.70%

Travelers Company Inc. (TRV) $370.16 -1.53%

International Business Machines Corporation (CDI) (IBM) $235.98 -1.03%

Visa Inc. (V) $359.46 -0.89%

Boeing Co. (BA) $231.20 -0.76%

S&P 500 - Risers

H&R Block Inc. (HRB) $54.18 16.11%

Seagate Technology Plc (STX) $877.92 8.05%

Hewlett Packard Enterprise (HPE) $58.79 7.97%

Arista Networks Inc. (ANET) $210.50 5.93%

Corning Inc. (GLW) $167.47 5.41%

KLA-Tencor Corp. (KLAC) $208.28 5.26%

Oracle Corp. (ORCL) $153.23 5.09%

J.B. Hunt Transport Services Inc. (JBHT) $275.96 4.93%

Lam Research Corp. (LRCX) $326.02 4.73%

Akamai Technologies Inc. (AKAM) $122.72 4.64%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Cencora Inc (COR) $314.17 -6.07%

eBay Inc. (EBAY) $102.30 -4.78%

Tapestry Inc. (TPR) $153.57 -4.35%

Bath & Body Works, Inc. (BBWI) $18.13 -3.89%

Adobe Systems Inc. (ADBE) $258.77 -3.81%

Idexx Laboratories Inc. (IDXX) $570.61 -3.79%

Take-Two Interactive Software Inc. (TTWO) $243.00 -3.71%

PVH Corp. (PVH) $81.59 -3.67%

Gartner Inc. (IT) $179.46 -3.39%

Nasdaq 100 - Risers

Seagate Technology Plc (STX) $877.92 8.05%

KLA-Tencor Corp. (KLAC) $208.28 5.26%

J.B. Hunt Transport Services Inc. (JBHT) $275.96 4.93%

Lam Research Corp. (LRCX) $326.02 4.73%

Micron Technology Inc. (MU) $910.83 4.53%

Intel Corp. (INTC) $100.95 4.42%

Expedia Group Inc. (EXPE) $325.61 3.77%

Applied Materials Inc. (AMAT) $548.29 3.13%

Starbucks Corp. (SBUX) $108.50 3.06%

Western Digital Corp. (WDC) $454.08 2.35%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

eBay Inc. (EBAY) $102.30 -4.78%

Adobe Systems Inc. (ADBE) $258.77 -3.81%

Idexx Laboratories Inc. (IDXX) $570.61 -3.79%

Take-Two Interactive Software Inc. (TTWO) $243.00 -3.71%

NetEase Inc. Ads (NTES) $124.01 -3.64%

Microchip Technology Inc. (MCHP) $79.44 -3.22%

Workday, Inc. (WDAY) $175.29 -3.14%

Alphabet Inc. Class A (GOOGL) $343.54 -2.88%

Alphabet Inc. Class C (GOOG) $342.32 -2.82%