US inflation data showed a slight increase in July. The personal consumption expenditures price index rose to 3.7 percent. Core inflation remained unchanged, indicating persistent underlying pressures. This data strengthens the argument for a Federal Reserve interest rate hike. Traders now anticipate a higher probability of a September rate increase.

US stocks opened lower on Wednesday after hotter-than-expected inflation data strengthened expectations of another Fed rate hike this year. The Dow, S&P 500 and Nasdaq fell at the open as investors awaited Nvidia's earnings, closely watched for fresh clues on AI demand and the broader tech rally.

Retail sugar prices increased for a second day due to higher festive demand. Ex-mill rates have fallen significantly after the government allowed raw sugar imports. Wholesale sugar prices also saw a marginal increase on Wednesday. The government has imposed stock limits and banned exports to control prices. Sugar supply remains adequate with sufficient domestic production and opening stocks.

In Asian markets, the dollar held steady as traders looked ahead to crucial inflation reports, particularly the US PCE data set to be released before the Jackson Hole symposium this weekend. Meanwhile, oil prices dipped due to easing tensions in the Middle East and halted diplomatic negotiations. The Australian dollar strengthened following favorable inflation figures, while cryptocurrencies continued their upward trajectory, and gold saw a minor decline.

Gold prices held steady as investors kept a watchful eye on upcoming United States inflation data, which is expected to offer insights into the Federal Reserve's interest rate decisions. Market participants are looking towards a potential pause in rate hikes next month. Concurrently, other precious metals, including silver, platinum, and palladium, experienced slight increases, reflecting ongoing global economic concerns and trade tensions impacting market dynamics.

The chipmaker has been the biggest beneficiary of the race to ​build AI infrastructure. Recently, though, its stock has come under pressure as the company has pumped billions of dollars back into the AI ecosystem, stoking fears about its role in so-called circular deals that could artificially inflate demand and distort broader economic signals.

Intel shares came under renewed selling pressure on Monday, August 24, as investors weighed the impact of the chipmaker’s recently completed $20 billion stock offering. The decline also came amid broader weakness across semiconductor stocks. (Sources: Benzinga; Intel Newsroom; ECIKS) ​Intel Stock Under Pressure

Last week, IPO-bound OpenAI said it would slow the ‌pace of model development ⁠while ⁠overhauling its research and training systems after company officials were caught unawares when an AI agent ​being tested hacked Hugging Face.

Gold prices experienced an uptick on Tuesday, fueled by news of Treasury buybacks. The market's focus is now on significant U.S. inflation data and a forthcoming address from the Fed Chair. Analysts are eager for indications regarding interest rates and bond yields. Citi has upgraded its gold price projections, suggesting a likely easing of geopolitical tensions and a decline in real interest rates.