The S&P 500 moved into record territory Thursday after U.S. wholesale prices showed little change in July, giving investors another indication that inflation pressures may be easing. The benchmark was recently up about 0.5%, while the Nasdaq Composite gained 0.6%. Technology stocks provided much of the lift, with Meta Platforms, Micron Technology and Netflix among the names supporting the Nasdaq, while the Dow Jones Industrial Average slipped about 0.1%. The Labor Department's producer price index was flat last month, compared with economists' expectation for a 0.2% increase, and core PPI advanced 0.2%, below the 0.3% forecast. The latest reading followed July consumer-price data that showed a 0.1% monthly increase, and together the reports could reinforce expectations that the Federal Reserve has less need to tighten policy. Oil prices also weakened, with Brent and West Texas Intermediate each losing about 1% in the session. Cisco Systems fell about 9% after its quarterly update, while Cerebras Systems dropped roughly 13% following its results.
