US close: Stocks register solid gains following PPI reading

(Sharecast News) - Wall Street stocks closed sharply higher on Tuesday as market participants got their first taste of this week's key inflation numbers. At the close, the Dow Jones Industrial Average was up 1.04% at 39,765.64, while the S&P 500 advanced 1.68% to 5,434.43 and the Nasdaq Composite saw out the session 2.43% firmer at 17,187.61.

The Dow closed 408.63 points higher on Tuesday, easily reclaiming the previous session's losses.

US producer prices rose by less than expected in July, according to the Bureau of Labor Statistics. Producer prices increased 0.1% to 144.67 points in July, up from 144.53 in June but short of preliminary estimates for a 0.2% month-on-month uptick. On an annualised basis, PPI was up 2.2%.

On Wednesday, the Bureau of Labor Statistics will publish last month's consumer price index, giving an all-important look at how price changes have impacted consumers in their day-to-day lives.

Elsewhere on the macro front, the National Federation of Independent Business' small business optimism index rose to 93.7 in July, up from 91.5 in June for the highest reading since Russia's invasion of Ukraine in February 2022 but was still below the 50-year average of 98.25%.

In the corporate space, Home Depot traded higher despite the retailer's H2 sales warning, with the group now expecting to report a 3-4% year-on-year decline in full-year comparable sales.





Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Nike Inc. (NKE) $78.50 5.17% Intel Corp. (INTC) $20.47 3.59% Boeing Co. (BA) $168.76 2.82% Apple Inc. (AAPL) $221.27 2.10% Microsoft Corp. (MSFT) $414.01 1.85% 3M Co. (MMM) $125.35 1.61% Unitedhealth Group Inc. (UNH) $574.46 1.58% Goldman Sachs Group Inc. (GS) $492.21 1.33% Salesforce.Com Inc. (CRM) $254.58 1.31% Home Depot Inc. (HD) $350.07 1.23%

Dow Jones - Fallers

Johnson & Johnson (JNJ) $158.30 -0.93% Walmart Inc. (WMT) $68.13 -0.83% Walgreens Boots Alliance, Inc. (WBA) $10.56 -0.61% Chevron Corp. (CVX) $144.29 -0.60% Walt Disney Co. (DIS) $85.60 -0.41% Cisco Systems Inc. (CSCO) $45.37 -0.30% Dowdupont Inc. (DWDP) $0.00 0.00% Visa Inc. (V) $260.13 0.09% Procter & Gamble Co. (PG) $167.32 0.29% McDonald's Corp. (MCD) $270.31 0.32%

S&P 500 - Risers

Starbucks Corp. (SBUX) $95.90 24.00% CenturyLink Inc. (LUMN) $5.01 7.97% Nvidia Corp. (NVDA) $116.14 7.89% VF Corp. (VFC) $17.82 7.29% QUALCOMM Inc. (QCOM) $169.47 6.77% Estee Lauder Co. Inc. (EL) $91.94 6.64% Nike Inc. (NKE) $78.50 5.17% Broadcom Inc. (AVGO) $156.16 5.12% KLA-Tencor Corp. (KLAC) $793.83 4.92% Hanesbrands Inc. (HBI) $6.05 4.85%

S&P 500 - Fallers

Chipotle Mexican Grill Inc. (CMG) $51.68 -7.50% Baxter International Inc. (BAX) $34.57 -6.55% Diamondback Energy Inc. (FANG) $196.14 -3.19% Valero Energy Corp. (VLO) $147.50 -2.61% Illumina Inc. (ILMN) $119.72 -2.60% Occidental Petroleum Corp. (OXY) $57.46 -2.58% Zions Bancorporation (ZION) $45.74 -2.46% Helmerich & Payne Inc. (HP) $34.22 -2.23% Take-Two Interactive Software Inc. (TTWO) $144.88 -2.19% Huntington Bancshares Inc. (HBAN) $13.48 -2.11%

Nasdaq 100 - Risers

Starbucks Corp. (SBUX) $95.90 24.00% Nvidia Corp. (NVDA) $116.14 7.89% QUALCOMM Inc. (QCOM) $169.47 6.77% Tesla Inc (TSLA) $207.83 5.26% Broadcom Inc. (AVGO) $156.16 5.12% KLA-Tencor Corp. (KLAC) $793.83 4.92% Microchip Technology Inc. (MCHP) $79.14 4.26% Skyworks Solutions Inc. (SWKS) $106.70 4.06% Applied Materials Inc. (AMAT) $200.80 3.95% Lam Research Corp. (LRCX) $840.76 3.91%

Nasdaq 100 - Fallers

Sirius XM Holdings Inc (SIRI) $3.00 -3.51% Illumina Inc. (ILMN) $119.72 -2.60% Take-Two Interactive Software Inc. (TTWO) $144.88 -2.19% Qurate Retail Inc. (QRTEA) $0.63 -1.89% CSX Corp. (CSX) $33.22 -1.89% Hologic Inc. (HOLX) $81.55 -1.76% eBay Inc. (EBAY) $55.70 -1.64% NetEase Inc. Ads (NTES) $89.47 -0.90% Check Point Software Technologies Ltd. (CHKP) $182.17 -0.88% Dollar Tree Inc (DLTR) $92.45 -0.73%