


U.S. stock indexes ticked higher on Thursday following another encouraging update on inflation across the country.
The S&P 500 rose 0.4% to pull back with 1.6% of its record. The Dow Jones industrial average added 101 points, or 0.2%, and the Nasdaq composite gained 0.2%.
Oracle pushed upward on the market after jumping 13.3%. The tech giant delivered stronger profit and revenue for the latest quarter than analysts expected.
That helped offset a 4.8% loss for Boeing after Air India said a London-bound flight crashed shortly after taking off from Ahmedabad airport Thursday with 242 passengers and crew onboard.
Stocks broadly got some help from easing Treasury yields in the bond market following the latest update on inflation. Thursday’s said inflation at the wholesale level wasn’t as bad last month as economists expected.
The yield on the 10-year Treasury fell to 4.35% from 4.41% late Wednesday and from roughly 4.80% early this year.
On Wall Street, Chime Financial jumped 37.4% in its first day of trading on the Nasdaq. The technology company is trying to be the main financial hub for customers, connecting them with its bank partners.
GameStop dropped 22.5% after saying it plans to raise $1.75 billion by borrowing at zero interest rates, though the lenders could choose to be repaid in the video-game retailer’s stock instead of cash.
All told, the S&P 500 rose 23.02 points to 6,045.26. The Dow added 101.85 to 42,967.62, and the Nasdaq composite gained 46.61 to 19,662.48.
— Associated Press