S&P 500 Rises, Small Caps Outperform As July Consumer Price Index Fuels Fed Rate Cut Hopes: 5 ETFs to Watch Wednesday
S&P 500 Rises, Small Caps Outperform As July Consumer Price Index Fuels Fed Rate Cut Hopes: 5 ETFs to Watch Wednesday
The July Consumer Price Inflation report made another step toward the Federal Reserve's 2% target, though less pronounced than June's, sustaining optimism for imminent interest rate cuts.
7月份消费者价格通胀报告迈向美联储2%目标的一步，尽管不如6月明显，仍然保持着即将出现降息的乐观态度。
Last month, a basket of goods and services purchased by U.S. consumers rose by 2.9% year-over-year, slightly below the previous and expected 3%, marking the fourth consecutive decline in annual inflation and the lowest rate since March 2021.
上个月，美国消费者购买的一篮子商品和服务的价格同比上涨2.9%，略低于之前的预期3%，这是年度通胀连续第四个季度的下降，也是自2021年3月以来的最低速度。
The annual core inflation rate also eased as anticipated, from 3.3% to 3.2%, the lowest since April 2021.
同样预期中，年度核心通胀率也从3.3%下降至3.2%，是2021年4月以来的最低水平。
However, the July report was marred by an increase in the shelter component, which, due to its significant weight in the basket, accounted for about 90% of the headline inflation rise.
然而，7月份报告中的住房组成部分出现增长，由于其在篮子中占据的重要性较高，占了约90%的总体通胀上涨。
The decline in annual inflation rates wasn't sufficient to bolster expectations for a 50-basis-point rate cut in September.
年度通胀下降并不足以提高人们对于9月份50个基点降息的预期。
Market-implied probabilities for such a substantial cut dropped from 50% to 43% following the report, while the likelihood of a smaller 25-basis-point cut increased to 57%.
市场对于如此大的降息概率从50%降至43% 反之，市场更倾向于有一个较小的25个基点的降息，概率增至57%。
Market Reactions: Stocks Rise, Yields Steady, But Dollar Strengthens Against Yen
市场反应：股票上升，收益率稳定，但美元兑日元升值。
The July inflation data sparked a positive reaction in stocks, especially in the tech sector, with small caps outperforming their larger-cap counterparts. Treasury yields remained largely stable, while the U.S. dollar gained ground against the low-yielding Japanese yen.
7月通胀数据在股票市场上引发了积极的反应，尤其是在科技板块，小市值股票表现优于大市值股票。国债收益率基本上保持稳定，而美元对低收益日元升值。
Here are the premarket price reactions of the following exchange-traded funds (ETFs) to the inflation data:
以下交易所交易基金（ETFs）的盘前价格反应如下：
- The SPDR S&P 500 ETF Trust (NYSE:SPY) was up 0.2% at 09:10 a.m. in New York. Major premarket gainers were Kellanova (NYSE:K) and Cardinal Health Inc. (NYSE:CAH), up 7.2% and 5.5% respectively.
- The tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) rose 0.3%. Top gainers were Arm Holdings plc (NASDAQ:ARM) and Micron Technology Inc. (NASDAQ:MU) up 3.1% and 3%, respectively.
- Semiconductors were the strongest-performing industry, with the VanEck Semiconductor ETF (NYSE:SMH) up 0.9%. Micron Technology Inc. and ASML Holding N.V. (NASDAQ:ASML) led gains, with the latter up 2.1%.
- The iShares Russell 2000 ETF (NYSE:IWM) rallied 0.5%, with Victoria's Secret & Co. (NYSE:VSCO) and AnaptysBio, Inc. (NASDAQ:ANAB) making the larger gains in the premarket, up 16% and 13%, respectively.
- The Invesco CurrencyShares Japanese Yen Trust (NYSE:FXY) fell 0.2%.
- 标普500 ETF信托基金（NYSE:SPY）于纽约时间上午09:10上涨0.2%。主要的盘前涨幅股包括宜家家居（NYSE:K）和基茨公司（NYSE:CAH）分别上涨7.2%和5.5%。
- 以科技股为主的纳指100 etf-景顺qqq信托基金（NASDAQ:QQQ）上涨0.3%。涨幅榜前列的股票包括Arm Holdings plc（NASDAQ:ARM）和美光科技股份有限公司（NASDAQ:MU），分别上涨3.1%和3%。
- 半导体板块表现最强，其中VanEck半导体指数etf（NYSE:SMH）上涨0.9%。美光科技股份有限公司和阿斯麦（ASML Holding N.V.）领涨，后者上涨2.1%。
- iShares罗素2000指数etf（NYSE:IWM）上涨0.5%，Victoria's Secret & Co.（纽交所：VSCO）和AnaptysBio，Inc.（NASDAQ:ANAB）在盘前走得更好，分别上涨16%和13%。
- 景顺汇通日元etf-trust（NYSE:FXY）下跌了0.2%。
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