US Tech Stocks Surge on AI Demand Forecast

Nasdaq rose over 1%, driven by Micron’s AI demand forecast, as soft inflation data fueled hopes of a Fed rate cut.

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US Tech Stocks Surge on AI Demand Forecast

US Tech Stocks Surge on AI Demand Forecast
US stock indices closed higher following favorable inflation data, with the Nasdaq gaining over 1%. Micron's AI demand forecast spurred optimism. Consumer discretionary and tech stocks led the rally, while market expectations for a Fed rate cut increased.