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.
- A wholesale inflation report showed prices rose 4.7% in the past year, slower than June's 5.5% rate and slightly below economists' expectations.
- Traders reduced bets that the Federal Reserve will raise interest rates at its September meeting, with the implied probability falling to about 35%.
- Treasury yields declined, and the 10-year yield fell to 4.65% from 4.68% the previous day.
- Brent crude oil fell 2.1% to $87.07 a barrel, easing some concern about inflation.
- Real-estate shares and several companies with stronger-than-expected earnings rose, while Cisco Systems fell despite beating profit and revenue estimates.
U.S. stocks climbed to a record on Thursday after new signs suggested inflation was easing somewhat. The S&P 500 rose 0.7% to a new high, while the Dow Jones Industrial Average added 0.1% and the Nasdaq composite gained 0.8%.
The latest wholesale inflation reading showed prices rising 4.7% from a year earlier, down from June's 5.5% pace and a bit better than economists had expected. That helped ease expectations for an immediate Federal Reserve rate increase, with traders pricing in about a 35% chance of a September hike. For markets, the combination of cooler inflation and lower bond yields is supportive for stocks, especially interest-rate-sensitive sectors.
Bond yields declined, with the 10-year Treasury yield slipping to 4.65% from 4.68% on Wednesday. Oil prices also fell, with Brent crude down 2.1% to $87.07 a barrel, reducing some pressure on inflation expectations.
Real-estate shares were among the bigger gainers, while companies that reported stronger-than-expected quarterly results also supported the market. AvalonBay Communities and D.R. Horton rose, Fossil Group advanced after beating estimates, and Cisco Systems fell even after topping profit and revenue forecasts. The report's direct market impact is mildly positive for equities and neutral to slightly positive for gold and foreign exchange through lower rate pressure; crypto was not addressed in the article.
油价下跌且通胀数据略有改善，美国股市创下新高
周四，美国股市在通胀出现一定缓和迹象后上涨并创下纪录。标普500指数上涨0.7%并刷新高点，道琼斯工业平均指数上涨0.1%，纳斯达克综合指数上涨0.8%。
最新的批发通胀数据显示，价格同比上涨4.7%，低于6月的5.5%，也略好于经济学家的预期。这降低了市场对美联储立即加息的押注，交易员目前给9月加息定价约35%。对市场而言，通胀降温和债券收益率下行对股市尤其是利率敏感板块构成支撑。
美国国债收益率回落，10年期国债收益率从周三的4.68%降至4.65%。油价也走低，布伦特原油下跌2.1%，至每桶87.07美元，减轻了部分通胀压力。
房地产股领涨，部分季度业绩好于预期的公司也推动了大盘。AvalonBay Communities和D.R. Horton上涨，Fossil Group在业绩超预期后走高；思科虽然利润和营收都高于预期，股价仍下跌。就市场影响看，这篇报道对股票偏利好；由于利率压力下降，黄金和外汇方向也偏中性到略偏利好，而文中未涉及加密货币。