Episode Details

The S&P 500 rose to a fresh all-time intraday high on Thursday as oil prices declined and traders digested more inflation data.

The broad market index added 0.65% and surpassed 7,800 for the first time ever. The S&P 500 notched a closing record of 7,798.99. The Nasdaq Composite gained 0.81% to end at 26,803.03, boosted by gains in Meta Platforms, Micron Technology and Netflix. The Dow Jones Industrial Average inched up 0.13%, or 69.72 points, to 53,839.99.

Brent crude futures shed more than 2% to close at $87.07 per barrel. West Texas Intermediate futures also slid more than 2% to settle at $81.25 per barrel. The moves come as traders weighed falling oil demand while the U.S.-Iran war continues.

Wall Street got another look at U.S. inflation on Thursday, with the July reading of the U.S. producer price index — which gauges what wholesalers pay for raw goods and materials — coming in unchanged. Economists polled by Dow Jones had called for an increase of 0.2% on the month. Excluding volatile food and energy prices, core PPI rose 0.2%, just below the gain of 0.3% economists expected.

SPI down 37 – Oil and Gold fall – Tech to shine.

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