Stocks rose Thursday after another key inflation reading came in lighter than expected. This came after the S&P 500 closed at its highest level in over a year.
The Dow Jones Industrials came off its highs of the morning, but stayed afloat 40.75 points to enter noon hour EDT Thursday at 34,388.18.
The S&P 500 took on 26.41 points to 4,498.57.
The NASDAQ index went skyward 161.51 points to 14,080.47.
Cybersecurity stock Palo Alto Networks jumped 4.6%, partially rebounding from Wednesday's losses. Meanwhile, shares of MGM Resorts and Alphabet rose more than 4%.
June's producer price index report rose less than anticipated, building upon optimism from Wednesday's consumer price index data. The PPI, which measures what wholesalers pay for goods, rose 0.1% in June. Economists polled by Dow Jones had expected an increase of 0.2%. Core PPI, which strips out volatile food and energy prices, climbed 0.1% — also lower than expectations.
Prices for the 10-year Treasury sagged slightly, raising yields to 3.79% from Wednesday's 3.78%. Treasury prices and yields move in opposite directions.
Oil prices gathered 33 cents to $76.08 U.S. a barrel.
Gold prices forged ahead $1.70 to $1,963.40 U.S. an ounce.