Wall Street stocks surged toward record highs on Thursday as oil prices eased and data showed that wholesale inflation isn’t broadly accelerating, reinforcing bets the Federal Reserve will refrain from raising rates next month.
At the opening bell, the Dow Jones Industrial Average rose 58.3 points, or 0.11%, to 53828.55. The S&P 500 rose 14.7 points, or 0.19%, to 7763.18, while the Nasdaq Composite rose 42.9 points, or 0.16%, to 26631.341.
US wholesale inflation PPI decelerated in July from a year earlier by more than estimated, helped by a further decline in energy and food costs. The Producer Price Index rose 4.7% from July 2025 after a 5.5% annual increase in June. On a month-over-month basis, the PPI was unchanged.
