The S&P 500 gained 0.74% to close at 5,199.06. The Nasdaq Composite added 1.68% to end the day at 16,442.20, a record level. The Dow Jones Industrial Average underperformed and slipped 2.43 points, or 0.01%, at 38,459.08.

Technology stocks lifted the S&P 500 and Nasdaq Composite into positive territory midday Thursday as investors bought into the dip from earlier in the week.

The producer price index, a measure of inflation at the wholesale level, increased 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus.

ASX to fall. SPI Futures down 29 points (-0.37%).

• Base metals broadly lower, Nickel -4.14%, Aluminium -0.30%, Zinc +0.95%, Lead -1.24%, and Tin -0.11%.
• Copper dips 0.30% on weak CPI data from China.
• Gold prices firmed 1.73% following softer-than-expected PPI data.
• 10Y Bond Yields – US 4.585%, Australia 4.306%, and Germany 2.461%.
• Currencies - Aussie dollar +0.05%, USD Index +0.01%, Euro +0.04%, and Bitcoin +0.83%.
• Oil prices edged lower as stubborn US inflation dampened near-term rate cuts, but concerns Iran may attack Israel kept crude prices near six-month highs, WTI -1.37% and Brent Crude -0.46%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.