Stocks rose Thursday after a key inflation reading showed slightly less year-over-year inflation growth than expected.
The Dow Jones Industrials fell from their lofty heights, but remained in the green 173.95 points midday Thursday at 35,297.31.
The S&P 500 added 19.08 points to 4,487.59.
The NASDAQ index improved 59.74 points, or 1.5%, to 13,781.75.
Meanwhile, Disney gained more than 3% after announcing an upcoming price hike for ad-free Disney+ subscriptions. The media giant also reported fiscal third-quarter earnings per share that beat expectations. Wynn Resorts advanced more than 3% on a better-than-expected report.
More than 90% of S&P 500 companies have reported earnings for the quarter as of Thursday morning. Of those, about four-fifths have beat Wall Street expectations,
July consumer prices gained 3.2% on an annual basis, less than the 3.3% consensus from economists polled by Dow Jones. On a month-to-month basis, inflation increased 0.2%, in-line with estimates. The report also said real average weekly earnings were unchanged last month in another positive sign.
Still, the report had some signs of sticky inflation. Excluding food and energy, the so-called core July CPI reading was up 4.7% on an annual basis, far above the Fed's 2% target. And headline inflation was above the 3% annual rate in June.
Prices for the 10-year Treasury were lower, raising yields to 4.02% from Wednesday's 4%. Treasury prices and yields move in opposite directions.
Oil prices faded 72 cents to $83.68 U.S. a barrel.
Gold prices hiked $1.60 to $1,952.70 U.S. an ounce.