Soft July producer prices lift tech as Nasdaq 100 gains 1.15%

Flat wholesale inflation pushed Treasury yields lower and raised the odds of a September Fed hold to about 68%, with the S&P 500 up 0.65% to 7,799 and Workday surging 18% on buyout talk.

Deepakshi

Kristal Research & Marketing team

14 Aug

Key takeaways — AI summary

US stocks closed higher on Thursday, led by technology: the S&P 500 rose 0.65% to 7,799 and the Nasdaq 100 added 1.15% to 30,084, while the Dow was nearly flat at +0.13%.
July producer prices were unchanged from June versus an expected 0.2% rise, with the annual rate cooling to 4.7% from 5.5%; per CME FedWatch, traders raised the odds of the Fed holding rates steady in September to roughly 68% from 60%.
Bond yields fell across the board — the 2-year Treasury yield dropped about 0.06 points to 4.140% and the 10-year fell about 0.05 points to 4.639%; a $25 billion 30-year bond auction drew weak demand.
Workday jumped 18% after Reuters reported Silver Lake is in talks to buy it, and Accelerant agreed to a Thoma Bravo buyout at $20.25 a share versus a $13.61 prior close; SanDisk rose 14% and Reddit gained 12% after hours on confirmed S&P 500 inclusion.
Cerebras fell 12% on weak revenue and shrinking margins, while Applied Materials dropped 4.5% after hours despite $9.12 billion revenue (up 25%) and above-consensus guidance; oil settled $2.02 lower at $81.25 and gold slipped 0.60% to $4,324.

Generated by Kristal AI · reviewed by the research desk

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