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According to Jinse Finance, the three major U.S. stock indexes closed nearly flat, with the S&P 500 up 0.03%, the Nasdaq down 0.01%, and the Dow Jones down 0.02%. Notably, the S&P 500 set a new all-time closing high for the third consecutive trading day. Most large-cap tech stocks rose, with Intel surging over 7%, Amazon and Netflix up more than 2%, and Microsoft, Nvidia, Google, and Meta posting modest gains. Tesla fell more than 1%, while Apple edged down slightly.

According to a report by Jinse Finance citing CNBC, David Zervos, Jefferies' Chief Market Strategist and a potential candidate for Federal Reserve Chair, stated that Fed officials should not be alarmed by the higher-than-expected underlying inflation pressures indicated by the July Producer Price Index. Instead, he advocates for the Fed to proactively implement easing measures now to prevent a slowdown in the labor market, which could actually help create over one million jobs. For the past three Fed meetings, Zervos has consistently called for a 0.5 percentage point cut in the federal funds rate, a position he reiterated in a recent interview. "I absolutely still hold the same view. I believe there is a reasonable and very compelling narrative that monetary policy is restrictive. Overall, I see no reason to change this perspective."