U.S. stocks march higher after cooler wholesale inflation data

Seeking Alpha ·

Wall Street's major averages rose on Wednesday as investors received the wholesale inflation data, which came cooler than expected. The benchmark S&P 500 ( SP500 ) was last +0.3%, while the heavy-tech Nasdaq Composite ( COMP:IND ) was +0.5%, and the blue-chip Dow

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The U.S. Producer Price Index (PPI) for July came in below market expectations, signaling a clear cooling of inflation. Consequently, the S&P 500 rose by 0.3% and the Nasdaq by 0.5%, significantly improving investor sentiment. Strengthened expectations for a Federal Reserve rate cut are driving a broad upward trend in New York markets.

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