U.S. stocks hit a record as oil prices fall and inflation cools slightly
- The S&P 500 rose 0.7% to a record high, while the Dow Jones Industrial Average and Nasdaq composite also gained.
- A U.S. wholesale inflation report showed prices 4.7% higher than a year earlier, an improvement from June's 5.5% reading and slightly better than economists expected.
- Falling oil prices and lower Treasury yields helped ease pressure on stocks and reduced some inflation concerns.
- Traders lowered the implied odds of a Federal Reserve rate increase at the next meeting to about 35%, from roughly 50% two days earlier.
- Real-estate shares and some homebuilder stocks advanced, while Cisco fell even after reporting stronger-than-expected profit and revenue.
U.S. stocks closed at a record on Thursday after new data suggested inflation was easing somewhat and oil prices slipped. The S&P 500 rose 0.7% to a fresh high, while the Dow and Nasdaq also advanced. The move was supported by a decline in Treasury yields, which reduced some pressure on equity valuations.
The main economic catalyst was a report showing wholesale prices in the United States were 4.7% higher in July than a year earlier. That was still elevated, but it was below June's 5.5% pace and slightly better than expected. The report followed a similar consumer inflation update a day earlier and led traders to scale back expectations for a near-term Federal Reserve rate increase.
Oil also moved lower, with Brent crude falling 2.1% to $87.07 a barrel. Shares tied to real estate gained on the view that lower rates can support housing demand and make dividend yields look more attractive. In company news, Fossil rose after better-than-expected quarterly results, while Cisco fell despite beating profit and revenue estimates. The overall market impact of the inflation and oil data was positive for stocks and neutral to mildly negative for oil-linked assets.
油价回落且通胀略有降温，美国股市创下纪录新高
周四，美国股市在通胀降温迹象和油价回落的推动下收于纪录高位。标普500指数上涨0.7%，创出新高，道指和纳指也同步上扬。美国国债收益率走低，进一步缓解了估值压力。
当天的主要经济数据来自美国批发价格报告。报告显示，7月批发价格同比上涨4.7%，虽然仍处于较高水平，但低于6月的5.5%，也略好于市场预期。该数据紧接着前一天的消费者通胀报告公布，促使交易员下调了对美联储近期加息的押注。
油价同样回落，布伦特原油下跌2.1%至每桶87.07美元。房地产相关股票因此走强，因为较低利率通常有利于住房需求，也会让股息回报更具吸引力。个股方面，Fossil 因季度业绩好于预期而上涨，思科则在营收和利润超预期后下跌。就市场影响看，这组消息对股票偏利好，对油价相关资产偏利空。