Wall Street climbed on Thursday, even as the Producer Price Index (PPI) sharply exceeded estimates in January, reigniting concerns over persistent inflationary pressures.
Investor risk appetite remained supported by expectations of ceasefire talks in Ukraine following a conversation between former President Donald Trump and Russian President Vladimir Putin a day earlier.
By midday trading in New York, all major indices were in positive territory, with technology stocks leading the gains. Among semiconductor stocks, Intel Corp. (NASDAQ:INTC) continued to rally, surging 10% after strong performances in prior sessions.
The U.S. chipmaker benefited from renewed buying momentum following comments from Vice President J.D. Vance, who indicated that the Trump administration plans to ease regulations to accelerate AI chip innovation in the U.S.
Intel has now soared over 27% this week, tracking its best weekly performance since 1974.
The U.S. dollar extended its decline as Treasury yields pulled back sharply, reversing Wednesday’s surge.
In commodities, gold edged up 0.4% to $2,918 per ounce, oil remained steady at $71 per barrel, and natural gas surged 2.4% to $3.66 per million British thermal units.
Sentiment in cryptocurrency markets remained subdued, with Bitcoin (CRYPTO: BTC) sliding 2.4% to trade below $96,000.
Thursday’s Performance In Major US Indices, ETFs
According to Benzinga Pro data:
Thursday’s Stock Movers
Stocks reacting to company earnings reports included:
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