Producer Price Index – One America News Network

S&P 500, Dow rise on boost from big bank earnings

The S&P 500 rose and the Dow hit a record high on Friday, driven by gains in major banks following third-quarter results.

The Nasdaq and the S&P 500 hit record highs on Wednesday as strength in Nvidia and other mega stocks supported Wall Street’s winning streak.

The Nasdaq and the S&P 500 hit record highs on Monday, while the Dow scaled a more than one-month high as investors awaited a key inflation report.

The Producer Price Index, which tracks wholesale-level inflation, edged up to 2.1%, marking the biggest jump since April 2023.

A Labor Department report showed the PPI for final demand rose 0.2% in March, against forecasts of a 0.3% increase.

Consumer spending appeared to be slowing in the first quarter amid rising inflation and high borrowing costs.