U.S. CPI Rises 3.8% in April, Slightly Above Expectations

U.S. 7 percent estimate. 6 percent, matching expectations. 7 percent forecast.

The inflation data arrived as several stocks tied to technology and artificial intelligence posted notable moves. Super Micro Computer shares are up over 114 percent year to date, compared with the S&P 500's roughly 8 percent advance. Mizuho increased its Super Micro Computer price target to $36 from $30, citing strong demand for AI servers.

The same stock has faced headwinds from regulatory issues. Super Micro Computer employees were charged with smuggling Nvidia chips into China earlier this year. The company has ties to China that have weighed on its performance at times.

Qnity Electronics delivered a beat-and-raise earnings report this morning. The supplier of materials used to make and package chips reported organic sales growth of 17 percent, driven by the AI boom. Qnity Electronics stock rose more than 3 percent after the results, bringing its year-to-date gain to more than 87 percent.

Analysts also turned bullish on Corning. Mizuho raised its Corning price target to $220 from $190 after the company updated its long-term financial targets last week. Mizuho analysts forecasted free cash flow growth for Corning into 2030 despite higher capital expenditures.

CNBC raised its Corning price target to $200 from $180, citing the long-term targets and a major optical partnership with Nvidia. Separately, Nelson Peltz's Trian is trying to put together a take-private bid for Wendy's. Nelson Peltz served as chairman of Wendy's for 17 years before stepping down in 2024.

Trian already owns about 16 percent of Wendy's and had previously flirted with a takeover a few years ago. The inflation figures contributed to expectations of a weak open in the broader market. The data underscored persistent price pressures even as select technology suppliers continued to benefit from demand tied to artificial intelligence infrastructure.