Stock market today: Tech lags as inflation print keeps Fed rate cut on track

With the potential for a Fed rate cut next month, stocks like AMD might face downward pressure due to workforce reductions, which may signal operational struggles despite its focus on AI opportunities. However, its long-term growth prospects in AI remain strong. Overall, the market seems cautious in the short term but positive in the longer term focused on tech, particularly in AI. Additionally, Bitcoin's rising price indicates a shift in investment mentality towards crypto.

The anticipation of a rate cut is making tech stocks more attractive again, yet short-term volatility may be seen with stocks such as AMD due to its layoffs. However, broader tech indices may recover, especially as consumer spending stabilizes with manageable inflation metrics. Thus, there's a potential positive outlook for larger indices like S&P 500 in the longer term while managing immediate risks.