Week of 07/10-07/14 Market Tech AI Rally Fueled by CPI Report

Stock market indexes are closing in a green week due to more signs of inflation cooling. The Consumer Price Index (CPI) report, which measures the average change over time in prices paid by consumers on goods, showed prices rose at the slowest rate since March 2021. This renewed investor confidence in the Federal Reserve not raising interest rates on July 26 to ease inflation pressure. The market naturally rose on the good news of the CPI report and NVDA once again pushed the tech sector into green territory with news of investment into Softbank Group Corp to support the British chip designer "ARM" initial public offering. NVDA reached a high price of around 480dlls per share on Friday and its price target raised by analysts from 470dlls to 545dlls price per share. TSLA also traded significantly to the upside as its earnings call is scheduled for July 19 and the company has reported good news of deliveries for Q2 as well as the announcement of other electric vehicle manufacturers adopting the Tesla charger as the standard. AMZN stock also rose this week as Amazon Prime Day meets its forecasted expectations as demand for everyday products increase. A federal judge announced the decision to allow Microsoft to proceed with the 69 billion purchase of Activision Blizzard, maker of the Call of Duty games, since the merger has been stopped by the Federal Trade Commission (FTC) on antitrust concerns. This caused Activision Blizzard (ATVI) stock to surge 10% on the news of the decision.