Inflation Cools to 3.4%, Wall Street Rips to Records on AI Earnings

July CPI cools to 3.4% and eases pressure on the Fed, sending the S&P 500 to fresh record highs on blowout AI earnings from Palantir, CoreWeave and Nebius, while mortgage rates finally stop climbing. In this episode: • U.S. inflation cools to 3.4% in July, easing pressure on the Federal Reserve — https://www.cnbc.com/2026/08/12/cpi-inflation-report-july-2026.html • Wall Street rallies to record highs as AI earnings boost tech and rate-hike bets fade — https://www.reuters.com/markets/us-wall-st-gains-ai-earnings-lift-tech-inflation-data-supports-rate-hold-bets-2026-08-12/ • AI infrastructure stocks surge as CoreWeave and Nebius report upbeat earnings — https://www.cnbc.com/2026/08/12/coreweave-q2-earnings-ai-demand.html • Mortgage rates stabilize as cooling inflation eases financial conditions — https://www.cnbc.com/2026/08/12/mortgage-rates-finally-stop-rising-causing-demand-to-trickle-back-.html