US stocks rise to a record as oil prices drop and inflation gets less bad
- The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all advanced, with the S&P 500 closing at a record high.
- The market gained after a U.S. wholesale inflation report showed prices rose 4.7% year over year last month, down from 5.5% in June and slightly better than economists expected.
- Oil prices eased, with Brent crude falling 2.1% to $87.07 a barrel, which reduced some concern about further inflation pressure.
- Treasury yields fell, and traders lowered the implied chance of a Federal Reserve rate hike at its September meeting to about 35% from roughly 50% two days earlier.
- Real estate stocks were among the market’s stronger gainers, while Cisco Systems fell even after reporting better-than-expected profit and revenue.
U.S. stocks rose to record territory after fresh data suggested inflation is still elevated but easing somewhat. The S&P 500 gained 0.7% to a new closing high, while the Dow rose 69 points and the Nasdaq added 0.8%. The report also helped lower market expectations for a near-term Federal Reserve rate increase.
The move was supported by a drop in oil prices, which reduced pressure on inflation expectations. Brent crude fell 2.1%, and Treasury yields also declined, easing some of the pressure on stocks and other assets. Real estate shares were among the stronger performers, reflecting the benefits of lower rates and lower bond yields for that sector.
The report said traders were pricing a smaller chance of a September Fed hike than they had earlier in the week. From a market perspective, the tone was positive for stocks and mixed to negative for oil, while the effect on gold and foreign exchange was indirect through lower rate expectations and weaker yields.
美国股市在油价回落、通胀改善后创下新高
在最新通胀数据显示物价涨幅仍然偏高但有所缓和后，美国股市升至纪录高位。标普500上涨0.7%，收于新的历史高点，道指上涨69点，纳指上涨0.8%。这份报告也让市场对美联储短期内加息的预期下降。
油价回落进一步支撑了市场情绪，因其减轻了通胀预期压力。布伦特原油下跌2.1%，美国国债收益率也走低，减轻了股票和其他资产面临的压力。房地产板块表现较强，反映出更低利率和更低债券收益率对该板块的利好。
报道指出，交易员对美联储9月加息的押注较此前明显降温。从市场影响看，这对股市偏利好，对原油偏利空；对黄金和外汇的影响则主要通过利率预期和收益率回落间接传导。