Stocks Supported By Favorable Inflation News

Stocks Supported By Favorable Inflation News reports a broad market advance as U.S. inflation data came in softer than expected. The S&P 500 rose 0.23%, the Dow Jones Industrial Average gained 0.26%, and the Nasdaq 100 added 0.31%. September E-mini S&P futures were up 0.27%, while September E-mini Nasdaq futures increased 0.21%. The move followed news that June producer prices rose less than forecasts and the July Empire manufacturing survey rose more than expected. Technology strength added momentum after ASML delivered strong results, highlighting demand for chips tied to artificial intelligence. However, gains were capped by weakness among chipmakers and pressure in health insurance shares after Elevance Health’s guidance missed the second-quarter beat. Other data included MBA mortgage applications down 2.7%, and June PPI final demand easing to 5.5% year over year.