In the early morning of the 11th Beijing time, US stocks closed higher on Wednesday. Us CPI growth slowed to a lower-than-expected 8.5 per cent month-on-month in July, indicating that US inflation may have peaked, lowering market expectations of an aggressive Fed rate hike at its September meeting. Fed Evans says inflation in the United States is still unacceptably high. The VIX index, a measure of market panic, fell below 20:00.

The Dow rose 535.10 points, or 1.63%, to 33309.51; the Nasdaq rose 360.88, or 2.89%, to 12854.80; and the S & P 500 rose 87.77, or 2.13%, to 4210.24.

As U.S. stocks rose, the CBOE volatility Index (VIX), a measure of market panic, fell below 20:00 on Wednesday and fell to an intraday low of 19.79, its lowest level since April.

The July Consumer Price Index (CPI) released by the Labor Department on Wednesday showed that overall inflationary pressures eased, in line with market expectations, and fell more sharply than expected, lowering expectations that the Fed would continue to raise interest rates aggressively.

Specific data show that US CPI rose 8.50 per cent in July from a year earlier, below average market expectations of 8.7 per cent and well below the more than 40-year high of 9.1 per cent set in June.

According to an article published by the Bank of America Corporation Research Institute, there are still many reasons to be optimistic about US consumer resilience: gasoline prices fell significantly in July, providing some cushion for consumers and retailers' promotions boosted spending on goods. In addition, household savings and savings balances remain high, and consumers show no signs of borrowing increasing.

The Fed will hold its next monetary policy meeting from September 20 to 21. The market generally expects the Fed to continue to raise interest rates, but the focus of the debate is on the extent of the rate hike.

After the release of the CPI data, Charles Evans, president of the Federal Reserve Bank of Chicago, said US inflation was still "unacceptably high". The July CPI report was better than in previous months. The labour market continues to be "so strong". Optimistically, the economy will continue to grow. The situation in the second half of 2022 will be "quite positive".

Evans also believes that the fed should tighten monetary policy six months in advance, saying that the federal funds rate is expected to be in the range of 3.75% Murray 4% by the end of 2023. "We are in a strong position in terms of interest rates and can turn to a more restrictive position if necessary, or not raise interest rates so much," he said. "

Minneapolis Fed President Kashkari said: "the risk of recession will not prevent us from taking the necessary action, we will reduce inflation to 2%."

The champion of US stock turnover on Wednesday$Tesla, Inc. (TSLA.US) $It closed 3.89% higher, with a transaction of $27.6 billion.The company's CEO, Mr Musk, reduced his stake in Tesla, Inc. by about $6.9 billion a week on the grounds that he would have to buy the social platform if his case against Twitter was lost. Musk said in a tweet on the 9th that he reduced his holdings of Tesla, Inc. shares in order to deal with the possibility of Twitter "strong selling" and inadequate financing, and to avoid "urgent sales of Tesla shares" at that time.

After completing the above reduction, Musk cashed out about $32 billion by selling Tesla, Inc. shares in less than a year.

Second place$Apple Inc (AAPL.US) $It closed 2.62% higher at $169.24, the highest closing price since April 13, with a turnover of $11.8 billion.

Third place$NVIDIA Corp (NVDA.US) $It closed 5.92% higher, with a deal of 106.300 million U.S. dollars.NVIDIA Corp CEO Huang Renxun recently assured more than 22000 employees that NVIDIA Corp will not lay off staff, at least in the short term. Although the company issued a preliminary earnings warning earlier, it said second-quarter revenue would be lower than previously expected.

NVIDIA Corp warned on Monday that second-quarter revenue was expected to be $6.7 billion, down 19 per cent from a month earlier and up 3 per cent from a year earlier, due to the downturn in the gaming business. The revenue fell short of the $8.1 billion expected by NVIDIA Corp and Wall Street analysts.

In response, Huang Renxun said in an email to employees that the second-quarter results were "significantly lower than expected", mainly because of the slowdown in the gaming business. But he also assured employees that NVIDIA Corp's fundamentals are still strong and demand is still strong.

No. 7 Facebook Inc parent company$Meta Platforms (META.US) $It closed 5.82% higher, with a turnover of $5.4 billion. Meta Platforms said on Tuesday that it had raised $10 billion through its first bond issue. The company is seeking funds for share buybacks and investments to improve its business.

Before that, Meta was the only large technology company that had no debt on its books. The bond issue will help the company build a more traditional balance sheet and fund costly projects such as its meta-universe virtual reality project.

No. 9$The Trade Desk (TTD.US) $It closed 36.22% higher, with a turnover of $3.08 billion. The company's second-quarter revenue was $377 million, higher than market expectations of $365.2 million, and adjusted diluted earnings per share of $0.20, in line with market expectations. The company expects third-quarter revenue of at least $385 million and the market is expected to be $382.3 million; adjusted EBITDA is $140 million.

No. 13$Netflix Inc (NFLX.US) $It closed 6.16% higher, with a transaction of $2.24 billion. CEO Reed Hastings, the company, said on an earnings call in July that everyone was flocking to streaming and that the "traditional TV programming system" (Linear TV) would die out within five to 10 years. "traditional TV program system" refers to the content consumption mode in which users cannot be on demand and users must watch programs according to the broadcasting schedule.

Netflix Inc reported revenue of $7.97 billion in the second quarter of 2022, up 8.6% from a year earlier and lower than expected. Netflix Inc lost 970000 paying subscribers in the second quarter, but the reduction was less than 2 million expected. This is the second quarter that Netflix has experienced a decline in the number of subscribers.

No. 14$Coinbase (COIN.US) $It closed 7.37% higher, with a transaction of $2.18 billion. Coinbase shares fell more than 7 per cent before trading on Wednesday after recent second-quarter results fell short of expectations and revealed that the number of monthly trading users (MTU) fell from 9 million in the second quarter to 8 million in July. But some analysts are not discouraged by the results. BTIG analyst Mark Palmer wrote in a report that Coinbase's second-quarter revenue, trading volume and platform assets were all lower than market expectations. Meanwhile, the company posted a net loss of $1.09 billion, up from a loss of $430 million in the previous quarter.

No. 19 Chinese listed stock$BABA (BABA.US) $It closed 1.36% higher, with a transaction of $1.63 billion.

The following are the 20 most actively traded stocks of the day (by turnover):