Finance

Shares and stock index futures moved higher following a robust post-market earnings report from the artificial intelligence chip giant. Optimism was further reinforced by a massive infrastructure agreement under which Amazon Web Services will purchase two million graphic processing units from the manufacturer.

The Federal Reserve's preferred measure of inflation, the July Personal Consumption Expenditures price index, came in slightly hotter than anticipated. The persistence of elevated pricing pressures has prompted financial market participants to maintain bets that a central bank interest rate hike will occur before the end of the year.

The world's largest cryptocurrency briefly crossed the $80,000 threshold for the first time in more than three months before moderating to trade in the upper $78,000 range. The digital asset's recent upside was catalyzed by institutional demand and an expanded long-term bond repurchase program initiated by the US Treasury.