Good afternoon, you're listening to Markets Desk.
Equities are pushing higher today after a favorable inflation reading, with the S and P five hundred up a quarter percent and the Nasdaq one hundred outperforming, gaining nearly one percent. The cooler CPI print gave traders room to breathe, reinforcing bets that the Fed has space to hold steady without further tightening pressure.
Feeding that Nasdaq outperformance is a fresh burst of AI enthusiasm around SpaceX, whose private market valuation is catching a lift from momentum in its Grok artificial intelligence business. The company, better known for putting rockets into orbit, has been quietly building out AI revenue ambitions, and investors are pricing in that potential with notable conviction.
Turning to currency markets, the Japanese yen is losing ground again despite an extraordinary joint intervention by Tokyo and Washington that reportedly deployed as much as fifty-nine billion dollars to defend the currency just days ago. The yen had fallen to forty-year lows, and while the coordinated action marked the first of its kind since nineteen ninety-eight, the relief appears short-lived as underlying macro pressures reassert themselves.
That's the tape. Markets Desk, signing off the floor.
