Il slowdown in US inflation at 3,4% in July strengthens expectations of a Less aggressive Fed on rates and gives new momentum on Wall Street. The reaction of the European stock exchanges, which proceed in no particular order, with Milan Still positive. The FTSE MIB rose 0,32% to 53.876,86 points, supported mainly by technology stocks. Among other markets, Frankfurt earns 0,13% and Madrid 0,10%, while Paris yields 0,38% e London 0,20%.
US inflation at 3,4%, the Fed takes a breather
In July, the consumer price index in the United States was increased 3,4% On an annual basis, slowing from 3,5% in June and in line with expectations. On a monthly basis, the increase was 0,1%, while core inflation, adjusted for the more volatile energy and food components, rose by 0,2% monthly and 2,5% annually.
The data reduces the pressure on Federal Reserve, which is preparing for the meeting of September with a slightly more favorable price outlook. Investors, however, remain divided on the next moves: some see room for a 25 basis point rate cut, while others expect the Fed to keep interest rates unchanged.
Wall Street accelerates, Nasdaq leads the way
American indices are rising, supported by inflation data and some particularly positive quarterly results in the technology sector. Dow Jones rises by 0,19% to 53.893,37 points, theS & P 500 gains 0,32% to 7.752,78 points and the Nasdaq advances by 0,60% to 26.604,36 points. On the corporate front, CoreWeave marks a strong rise after better-than-expected results, while Super Micro Computers, a company specializing in AI servers, has provided better-than-expected revenue guidance for 2027. This brings the AI sector back into the spotlight, with investors looking at the ability of AI-related demand to continue supporting revenues and profits.
Among the liveliest titles are Nebius, up 16,6% after better-than-expected results in revenue, EBITDA and margins. Cava Group rises by 16,8%, supported by better-than-estimated profits and turnover, while Lumentum Holdings gains 7,9% after a quarterly report above expectations. Kontoor Brands However, it remains unchanged: revenues disappointed forecasts, but annual profits and estimates were better than expected.
Piazza Affari, Prysmian and Stmicroelectronics in the spotlight
A Business Square Technology stocks are once again leading the buying push. Prysmian rises by 4,98% to 133,90 euros, while stmicroelectronics gained 2,49% to 48,965 euros, supported by the new enthusiasm for the artificial intelligence sector coming from the United States. Also doing well Avio (+ 1,94%) and Unipol (+ 1,86%).
Among other titles, Eni (-0,4%) is in the spotlight after reaching an agreement with Apa Corporation to enter further exploration blocks in Uruguay, following the agreements signed with Argentina's YPF in November 2025. Mediobanca (-0,77%), however, held 5,07% of Nexi as of August 3, according to the latest Consob figures.
On the downside, Diasorin down 2,90% as sales hit luxury with BRUNELLO CUCINELLI (-2,14%) And Moncler (-1,54%). Also declining Stellantis (-1,14%).
Outside the main price list, it goes up Pirelli (+1,32%) following rumors of a possible further divestment by Chinese partner Sinochem, which, following the sale of a 14% stake to Czech entrepreneur Michal Strnad, is reportedly considering further reducing its stake. The stock remains little changed.
The other markets
On the energy front, volatility remains high Petroleum, with Brent crude below $90 a barrel. Conflicting news from the Middle East and the outlook for global demand are weighing on the situation. Meanwhile, OPEC has cut its forecast for global oil demand growth in 2026 for the fourth consecutive year, to 580 barrels per day. The International Energy Agency has also revised its forecasts, estimating a contraction in demand of around 1,6 million barrels per day for next year, compared to the 1 million barrel drop previously forecast. Meanwhile, the gas in Amsterdam, which brings it to the 60 euro per megawatt hour area.
Among the raw materials, the price of , with the spot contract around $4.400 an ounce. But what is most attracting attention is thesilver, which benefits from the more favorable market climate and rises by 1,73% to 66,06 dollars an ounce in September futures.
On the currency market theeuro/dollar remains above 1,15, while on the bond market the yield on the 10-year BTP is practically unchanged. spread between BTPs and Bunds remains around 79 basis points.
