Stock Market Today, July 14: Growth Stocks Rally as Inflation Cools to 3.5%, Equaling 2020 Lows

U.S. equities rallied July 14, 2026, after inflation fell to 3.5%, matching lows last seen in 2020. The Nasdaq Composite jumped 1.06% while the S&P 500 added 0.49%, with growth stocks leading the advance on the cooler inflation print.

IBM collapsed 24% on earnings concerns, marking one of the session's most dramatic moves. CleanSpark and Tower Semiconductor surged on infrastructure and expansion announcements, though the moves underscored bifurcated performance as banking earnings season kicked off with mixed results.

The 3.5% inflation reading represents a significant cooldown and reopens the debate around Federal Reserve policy flexibility heading into the back half of 2026. Growth names benefited immediately as lower inflation typically supports higher valuations for long-duration assets.