Record Stock Rally and a $34 Billion Tech Shock: Inside the Biggest Business News of August 12-13, 2025
U.S. consumer prices rose just 0.2% in July, fueling bets on a Federal Reserve rate cut in September and sending the S&P 500 and Nasdaq to record closes on Aug. 12. Washington and Beijing extended their tariff truce to November 10, averting new duties. Australia’s central bank cut rates, while the U.S. dollar hit its lowest level this year.