S&P 500 buoyed by U.S. CPI data

Squawk Box Europe Express

The S&P 500 enjoys a fifth consecutive day coming in higher on the back of U.S. CPI dipping to below 3 per cent for the first time since 2021. Investors Michael Burry and David Tepper move towards Chinese tech as several top hedge funds move away from Magnificent Seven stocks. Japanese Q2 GDP beats expectations, growing more than 3 per cent and nudging the Nikkei higher. This sets up the BoJ for another rate hike. Meanwhile, Chinese manufacturing numbers come in soft, prompting calls for more stimulus measures from Beijing. Retail sales, however, came in positive.

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