US stocks climbed on Thursday, with the S&P 500 (^GSPC) posting a record high after another inflation reading that eased September rate-hike bets and a slew of earnings reports.
The broad-based index rose roughly 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) moved up 0.8% after a calm day on Wall Street. The Dow Jones Industrial Average (^DJI), meanwhile, gained 0.1%.
Cisco (CSCO) and Cerebras (CBRS) stocks tanked on Thursday morning after the two AI-related companies reported earnings. Applied Materials (AMAT), which makes chipmaking equipment, reports results after the market close following a whopping 190% gain for its stock over the past year.
Data from the Producer Price Index, which tracks inflation from the sellers' perspective, showed prices rising by less than expected, another positive sign for investors after Wednesday's Consumer Price Index report showed inflation easing in July. So-called core readings showed slowdowns of both monthly and annual price appreciation.
Though cooling CPI and PPI data prompted traders to fade bets of a September rate hike, it likely wasn't enough to settle the divide among policymakers, and Fed watchers still expect at least one rate hike by the end of the year.
#rate #hike #thursday #september
The broad-based index rose roughly 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) moved up 0.8% after a calm day on Wall Street. The Dow Jones Industrial Average (^DJI), meanwhile, gained 0.1%.
Cisco (CSCO) and Cerebras (CBRS) stocks tanked on Thursday morning after the two AI-related companies reported earnings. Applied Materials (AMAT), which makes chipmaking equipment, reports results after the market close following a whopping 190% gain for its stock over the past year.
Data from the Producer Price Index, which tracks inflation from the sellers' perspective, showed prices rising by less than expected, another positive sign for investors after Wednesday's Consumer Price Index report showed inflation easing in July. So-called core readings showed slowdowns of both monthly and annual price appreciation.
Though cooling CPI and PPI data prompted traders to fade bets of a September rate hike, it likely wasn't enough to settle the divide among policymakers, and Fed watchers still expect at least one rate hike by the end of the year.
#rate #hike #thursday #september
2 months ago
