Shares of Intel (NASDAQ: INTC) were moving higher today on reports that the legacy chip giant could be acquired. While the buzz is just a rumor at this point, it was enough to send the stock up 8.2% as of 11:41 a.

Stocks were on course for a banner day amid signs of progress on inflation. The Dow rose 700 points, and the Nasdaq jumped 2%. Fresh inflation data looks to keep the Fed on hold this month — but it should curb any talk of potential rate hikes, experts say.