Market Open: Stocks Rise, July Inflation In Line, CoreWeave Shares Soar • 8/12/26

Summary

The CNBC morning update covers July CPI data showing headline inflation at 3.4% and core at 2.5%, the lowest since March 2021. Stocks opened higher led by gains in Caterpillar, Cisco, Micron, Intel, CoreWeave, Super Micro, and Cava following earnings reports and outlooks. Experts Michael Strain and Kitty Richards noted that stickier core PCE and a weakening labor market leave the Fed in a difficult position. Eli Lilly also announced lawsuits over unauthorized sales of its experimental obesity drug.

• July CPI came in as expected, with core year-over-year at 2.5%, the lowest since March 2021.
• Major indices opened higher, with the Dow led by Caterpillar and Cisco, and the Nasdaq up about half a percent.
• Semiconductor stocks gained; Micron and Intel both rose 4% at the open.
• CoreWeave shares surged 18% after Q2 revenue doubled on AI compute demand.
• Super Micro Computer and Cava also jumped on positive company-specific news.
• Michael Strain warned that core PCE is running at 3.3% annually, complicating Fed policy.
• Kitty Richards highlighted stagflationary risks from geopolitics, trade policy, and a soft labor market.
• Eli Lilly is suing six companies over illegal sales of its unapproved obesity drug retatrutide.