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On Thursday, the major indices in the U.S. finished higher, supported by gains in technology-related shares as softer-than-expected producer price inflation helped bolster investor sentiment.
The S&P 500 advanced 50.49 points (+0.65%) to 7,798.99. A new record.
The Nasdaq 100 surged 341.897 points (+1.15%) to 30,084.501.
The Dow gained 69.72 points (+0.13%) to 53,839.99.
On the sector front, Communication Services (XLC), Real Estate (XLRE), and Consumer Staples (XLP) outperformed, while Materials (XLB), Industrials (XLI), and Health Care (XLV) underperformed the most.
Looking at the latest U.S. economic data, U.S. producer prices rose 4.7 per cent in July from a year earlier, below the 4.9 per cent forecast and easing from 5.5 per cent in June. Over one month in July, the PPI was unchanged, compared with expectations for a 0.2 per cent increase and following a 0.3 per cent decline in June. Meanwhile, initial jobless claims rose to 209,000 in the week ended Aug. 8, above the 202,000 forecast and up from a revised 200,000 in the prior week.
U.S. Equity News:
Tapestry (TPR), the luxury fashion company behind Coach and Kate Spade, fell 16.49% after issuing a cautious fiscal 2027 revenue outlook, despite fourth-quarter earnings beating expectations and solid growth at Coach.
Cisco Systems (CSCO), a leading global supplier of networking hardware and software, sank 8.40% after its quarterly adjusted gross margin disappointed investors.
Tesla (TSLA), the electric vehicle maker, jumped 3.80%.
Meta Platforms (META), the social technology company, gained 2.78%.
Volatility & Commodities Snapshot:
The VIX index rose 0.08 point (+0.55%) to 14.63.
The U.S. 10-year Treasury yield declined to 4.651%.
In the commodities market, gold dropped $55.81 (-1.27%) to $4,351.25, while silver fell $0.87 (-1.33%) to $64.43. WTI crude oil retreated $2.10 (-2.52%) to $81.17.
Europe Market Overview:
At the European close, the major indices in the region finished in negative territory.
Germany's DAX declined 31 points (-0.12%) to 26,299.
France's CAC 40 fell 24 points (-0.28%) to 8,650.
The U.K.'s FTSE 100 dropped 60 points (-0.56%) to 10,772.
On the economic front, euro area industrial production was unchanged over one month in June, better than expectations for a 0.1 per cent decline, following a revised 0.3 per cent increase in May. In the U.K., GDP rose 0.3 per cent over one month in June, above expectations for no change, while second-quarter GDP expanded 0.4 per cent from the previous quarter, in line with forecasts. Meanwhile, U.K. industrial production fell 0.2 per cent over one month in June, missing expectations for a 0.1 per cent increase, after a revised 0.7 per cent decline in May.
Foreign Exchange & Crypto Wrap:
The dollar index slipped 0.04 point (-0.04%) to 99.978.
EUR/USD rose 3 pips (+0.03%) to 1.1527.
GBP/USD slipped 9 pips (-0.07%) to 1.3483.
USD/JPY gained 12 pips (+0.08%) to 159.53.
USD/CHF advanced 10 pips (+0.12%) to 0.8143.
AUD/USD fell 3 pips (-0.04%) to 0.7057.
USD/CAD slipped 9 pips (-0.06%) to 1.3930.
Finally, in the cryptocurrencies market, Bitcoin fell $132 (-0.21%) to $63,405, while Ethereum rose $2 (+0.11%) to $1,886.
After Hours Earnings:
Applied Materials (AMAT), a semiconductor equipment maker, reported stronger third-quarter results and raised its 2026 Semiconductor Systems revenue outlook, citing robust AI-driven demand.
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