US Stock Market Move | The Nasdaq Composite rose over 1%, with major tech stocks seeing a widespread increase. Intel Corporation (INTC.US) climbed nearly 5%.

On Thursday, the Nasdaq rose over 1% during the day, with major tech stocks performing well. Intel Corporation (INTC.US) increased by nearly 5%, while Tesla, Inc. (TSLA.US) and Broadcom Inc. (AVGO.US) each gained nearly 2%. Alphabet Inc. Class A (GOOGL.US), NVIDIA Corporation (NVDA.US), and Microsoft Corporation (MSFT.US) all rose by more than 1%. In terms of news, on August 13, data from the U.S. Bureau of Labor Statistics showed that the July PPI was flat month-over-month, lower than the market expectation of a modest increase, while the year-on-year growth rate fell from 5.5% in June to 4.7%. The core PPI, excluding food and energy, increased by 0.2% month-over-month, below the expected 0.3%, with the year-on-year growth rate dropping to 4.2%. The lower-than-expected increase in producers' prices in July, combined with consumer price data released the previous day which also showed a cooling trend, has further eased inflation pressures, continuing to weigh on market expectations for short-term interest rate hikes by the Federal Reserve.