US-listed optical communications stocks rallied, with Lumentum up 5%, Coherent up 6%, and Marvell Technology (MRVL.O) and Corning (GLW.N) up about 5%.

1. US core inflation was moderate in July. Excluding volatile food and energy prices, core CPI rose 0.2% month-over-month and 2.5% year-over-year, the slowest pace since March 2021. 2. Energy and gasoline prices fell for the second consecutive month, while grocery prices declined for the first time since March, at least partly due to a record drop in lettuce prices during the Cyclospora outbreak. Housing prices rose 0.1% month-over-month, accounting for two-thirds of the overall CPI increase. 3. The AI ​​boom was clearly reflected in computer software and accessories prices, which surged 21.2% year-over-year, a record high; price increases for computers, accessories, and smart home assistants were also the largest in over four years. 4. Following the data release, traders slightly reduced their bets on a September rate hike by the Federal Reserve.

Nokia shares continued to rise, recently gaining 10%, making it the second-best performing stock in the European Stoxx index.

The Dow Jones Industrial Average opened 14.50 points higher, or 0.03%, at 53,806.35 on Wednesday, August 12; the S&P 500 opened 27.19 points higher, or 0.35%, at 7,755.28; and the Nasdaq Composite opened 189.14 points higher, or 0.71%, at 26,634.59.

The Russian Foreign Ministry stated that the attacks in Ukraine have exacerbated global food shortages and driven up global food prices.

Russian intelligence sources claim that Ukraine is using Western intelligence agencies to attack transportation and logistics infrastructure and ships in the Sea of ​​Azov and the Black Sea.