Stocks Mixed as CPI Data Eases Rate-Hike Fears

The Nasdaq Composite Index (IXIC) S&P 500 Index (SPX) are on the rise, with the latter up triple digits as investors digest July's consumer price index (CPI) data, which came in line with expectations. It's now widely expected the Federal Reserve will keep rates unchanged at its September meeting, with the CME FedWatch tool pricing in a 40% chance for a hike. The Dow Jones Industrial Average (DJI) is inching lower, despite a surge out of the AI sector following upbeat earnings out of CoreWeave (CRWV) and Super Micro Computer (SMCI).

Continue reading for more on today's market, including:

• Historic signals say now is the time to buy the QQQ.
• Impressive Q2 results boost AI infrastructure stock.
• Plus, bears circle CARR; HRB surges; and Boeing partner cools off.

Options traders are circling Carrier Global Corp (NYSE:CARR), after law firm Pomerantz said it was investigating the HVAC on behalf of investors. So far 14,000 puts have been traded, seven times the intraday average amount. Most popular are the weekly 9/11 56-strike put and August 50 put, with positions being sold to open at the former. Despite pulling back from its late-June highs, CARR remains up 20% for 2026.

H&R Block Inc (NYSE:HRB) is one of the top performing names on the New York Stock Exchange (NYSE), surging 14.6% at $53.50, after the tax consulting firm posted a fiscal fourth-quarter earnings and revenue beat. The shares are eyeing their largest daily rise since May 7 and now sport a 24% year-to-date gain.

Aerospace name Archer Aviation Inc (NYSE:ACHR) is one of the worst NYSE stocks today, last seen down 6.4% at $6.35, cooling off after an impressive four-day surge. Earlier this week it was announced the drone giant had penned a deal with Boeing (BA), which was followed up with a Q2 loss that matched expectations and a revenue beat. The overhead $7 and 200-day moving average look to have both thwarted this week's breakout attempt, the former a ceiling that rejected shares in late May as well.