Closing Snapshot
- S&P 500 (SPX): 7,744.09, +25.15 (+0.33%)
- Nasdaq 100 (NDX): ~29,871,
-80 (-0.27%), still below 30,000 - Dow Jones (DJIA): 52,177.69, +556.21 (+1.08%)
- Russell 2000 (RUT): 2,767.27, +37.74 (+1.38%)
- VIX: 16.46, -0.41 (-2.4%), the market's "fear gauge" easing
- 10-year Treasury yield: 5.10%, -9 basis points (hundredths of a percentage point)
- WTI crude: $97.97, +$2.88 (+3.0%)
- Brent crude: $105.92, -$0.14 (-0.1%)
- Gold: ~$4,191, ~+2.0%
- US Dollar Index (DXY): ~101.8, roughly flat
Stocks broadened out on Thursday despite far hotter wholesale inflation. The producer price index (prices businesses receive for their goods and services) jumped 1.3% in September against 0.6% forecast, driven by a 20% surge in gasoline, yet the 10-year Treasury yield fell 9 basis points to 5.10% after New York Fed President John Williams said he saw no reason at this time for further rate hikes. Lower yields lifted rate-sensitive groups: homebuilders Lennar and D.R. Horton rose 4% to 6% and the small-company Russell 2000 gained 1.4%. Banks helped too, as PNC, BNY and U.S. Bancorp reported quarterly profits above estimates, and the Dow rose 1.1%. The AI data-center hardware sell-off continued, with Hewlett Packard Enterprise and Dell down about 7% each, which left the Nasdaq 100 slightly lower and the S&P 500 up just 0.3%.