Cooler US producer prices lift tech as S&P 500 gains 0.65%

July PPI came in flat versus June against 0.2% expected, sending odds of a September Fed hold to 68% and driving the Nasdaq 100 up 1.15% to 30,084.

Deepakshi

Kristal Research & Marketing team

14 Aug

Key takeaways — AI summary

US stocks closed higher Thursday with technology leading: the S&P 500 rose 0.65% to 7,799, the Nasdaq 100 added 1.15% to 30,084, and the Dow was nearly flat at +0.13%.
July producer prices were unchanged from June versus a 0.2% rise expected, cooling the annual rate to 4.7% from 5.5%; core PPI rose 0.2%.
Traders raised the odds of the Fed holding rates steady in September to roughly 68% from 50% at the start of the week, per CME FedWatch; the 2-year Treasury yield fell to 4.140% and the 10-year to 4.639%.
Private equity drove big movers: Workday jumped 18% on reported Silver Lake talks, Accelerant agreed a Thoma Bravo buyout at $20.25 a share (versus a $13.61 prior close), while Cerebras fell 12% on soft revenue and shrinking margins.
Oil fell as Middle East headlines stayed quiet, with US crude settling $2.02 lower at $81.25 a barrel; gold slipped 0.60% to $4,324.

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