The article discusses the positive impact of cooling inflation and Apple’s AI hype on the stock market. Key points include: 1) The US stock market rallied on Thursday, with the S&P 500 and Nasdaq Composite gaining 0.6% and 0.9%, respectively, as investors cheered cooler-than-expected inflation data. 2) The Consumer Price Index (CPI) rose 4% year-over-year in May, lower than the 4.1% estimate, easing concerns about aggressive interest rate hikes. 3) Apple’s shares surged 1.9% after the company unveiled its AI plans, fueling optimism about its potential in the AI race. 4) The tech-heavy Nasdaq outperformed as AI-related stocks rallied, with Nvidia and C3.ai gaining over 3%. 5) However, concerns remain about the Federal Reserve’s next move and the potential for further rate hikes.
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