Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years.
The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month.
"PPI is another confirmation this week that inflation continues to trend in the right direction even as we see better overall labor market and consumer data.
According to preliminary data, the S&P 500 (.SPX) gained 37.73 points, or 0.84%, to end at 4,509.89 points, while the Nasdaq Composite (.IXIC) gained 219.35 points, or 1.58%, to 14,138.31.
Delta Air Lines (DAL.N) shares gained after it lifted its full-year profit outlook following stronger-than-expected second-quarter earnings on a relentless post-pandemic travel boom.
Persons:
Mona Mahajan, Edward Jones, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington
Organizations:
Delta Air Lines, Federal Reserve, PPI, Nasdaq, Dow Jones, Nvidia, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, Thomson
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