Investors are expecting the main inflation report in USA. Following Federal Reserve Chairman Powell's warning on Tuesday that long-term high interest rates may hinder economic growth, US stocks rose slightly on Wednesday, with the S&P 500 and Nasdaq continuing to hit new highs.

The S&P 500 index rose 0.3% to a high of 5593 shortly after opening, and the Nasdaq also hit a new high of 18,534, up 90 points or 0.5% to the latest level of 18,519. The Dow rose slightly by 26 points or 0.1% to 39,318.

Tesla (TSLA.US) has yet to challenge its 11-day winning streak. Due to Tesla's better-than-expected second-quarter delivery, Goldman Sachs raised its target price for the stock by $73 to $248, but Tesla's stock price fell by 0.3%.

Nvidia (NVDA.US) is on the rise, up 1.7%. AMD (AMD.US) is spending nearly $0.7 billion to acquire Finnish startup Silo AI, and AMD has surged nearly 4% to become the best performer among the top 100 stocks in the Nasdaq. Micron (MU.US) is up more than 2%. Arm (ARM.US) is up more than 1%.

Large technology stocks are also up, with Apple (AAPL.US) and Alphabet (GOOG.US) up 1%. Microsoft (MSFT.US) is up 0.5%.

Taiwan Semiconductor (TSM.US) had revenue of NT$673.51 billion from April to June this year, higher than expected. The stock rose 0.5%.