The U.S. stock market rose to a record following the latest sign that inflation is getting less bad. Stocks also got a lift Thursday from easing oil prices in their latest yo-yo move.
The S&P 500 climbed 0.7% and topped its prior all-time high set last week. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite gained 0.8%.
Treasury yields eased in the bond market after a report showed that inflation at the U.S. wholesale level was not as bad in July as it was in June or as economists expected. Brent crude oil’s price fell 2.1%.
On Thursday:
The S&P 500 rose 50.49 points, or 0.7%, to 7,798.99.
The Dow Jones Industrial Average rose 69.72 points, or 0.1%, to 53,839.99.
The Nasdaq composite rose 214.54 points, or 0.8%, to 26,803.03.
The Russell 2000 index of smaller companies rose 7.36 points, or 0.2%, to 3,052.85.
For the week:
The S&P 500 is up 41.35 points, or 0.5%.
The Dow is down 196.94 points, or 0.4%.
The Nasdaq is up 112.41 points, or 0.4%.
The Russell 2000 is up 18.35 points, or 0.6%.
For the year:
The S&P 500 is up 953.49 points, or 13.9%.
The Dow is up 5,776.70 points, or 12%.
The Nasdaq is up 3,561.03 points, or 15.3%.
The Russell 2000 is up 570.94 points, or 23%.
