S&P Global Inc. has raised $300 million through senior unsecured fixed-rate notes under its global medium-term note programme. The notes, rated BBB by S&P Global Ratings and Baa3 by Moody's, will be listed on the Global Securities Market and Debt Securities Market of the India International Exchange (NSE IFSC). The issuance forms part of a broader funding strategy to support expansion plans, including investments in AI-driven analytics and data-platform development. By tapping Indian debt markets, S&P Global benefits from preferential tax rates offered through the IFSC framework whilst diversifying its capital-raising channels beyond traditional US debt markets. The transaction demonstrates how multinational firms are increasingly exploring emerging-market debt listings to access new investor pools and optimise funding costs.

US companies are achieving record-high profit margins, helping to fuel the stock market rally. The S&P 500's net profit margin reached 16.9% in the second quarter, up from 14.8% in Q1 and 12.9% a year ago, according to FactSet data. This surpasses the five-year average of 12.4%. Alphabet and Amazon are the largest contributors. Alphabet reported a 34% operating margin, whilst Amazon posted 13.7%, up from 11.4% a year earlier. Even excluding these tech giants, the S&P 500 margin stands at a record 15%. Eight of 11 sectors show improved margins compared to last year, led by technology, communication services, consumer discretionary, and energy. Strong demand and operating leverage have enabled companies to convert more revenue into profit, particularly in the asset-light tech sector.

US stocks rose Wednesday after July's consumer price index met expectations, with the S&P 500 opening at a record high. The index gained 0.3%, whilst the Nasdaq Composite advanced 0.7% and the Dow Jones Industrial Average ticked up 0.1%. Headline consumer prices rose 0.1% month-over-month in July and 3.4% annually, down from 3.5% in June. Core inflation came in at 0.2% monthly and 2.5% annually. The data eased concerns about further Federal Reserve rate increases. Futures markets now put the probability of no change to the Fed's target range at around 58%, up from just over 45% the prior week. AI-linked stocks provided additional support. CoreWeave shares surged 21% after posting second-quarter adjusted operating income margin of 5% that beat analyst estimates, with revenue doubling year-over-year.