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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 percent and topped its prior all-time high set last week. The Dow Jones Industrial Average added 0.1 percent, and the Nasdaq composite gained 0.8 percent.
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 percent.
On Thursday:
The S&P 500 rose 50.49 points, or 0.7 percent, to 7,798.99.
The Dow Jones Industrial Average rose 69.72 points, or 0.1 percent, to 53,839.99.
The Nasdaq composite rose 214.54 points, or 0.8 percent, to 26,803.03.
The Russell 2000 index of smaller companies rose 7.36 points, or 0.2 percent, to 3,052.85.
For the week:
The S&P 500 is up 41.35 points, or 0.5 percent.
The Dow is down 196.94 points, or 0.4 percent.
The Nasdaq is up 112.41 points, or 0.4 percent.
The Russell 2000 is up 18.35 points, or 0.6 percent.
For the year:
The S&P 500 is up 953.49 points, or 13.9 percent.
The Dow is up 5,776.70 points, or 12 percent.
The Nasdaq is up 3,561.03 points, or 15.3 percent.
The Russell 2000 is up 570.94 points, or 23 percent.
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