Wall Street Ends the Day Mixed

On Thursday, US stock markets showed a split performance: the S&P 500 closed at a fresh all-time high, while the Dow Jones and Nasdaq remained almost unchanged. Investors were reacting to stronger-than-expected producer price data, which reduced the likelihood of an imminent interest rate cut.

Inflation Gains Momentum

According to the US Labor Department, producer prices in July posted their sharpest increase in three years, driven by a notable jump in goods and services costs. This points to mounting inflationary pressures across the economy.

Market Close

• Dow Jones Industrial Average: down 11.01 points, or 0.02%, to 44,911.26;
• S&P 500: up 1.96 points, or 0.03%, to 6,468.54 — a new record closing high;
• Nasdaq Composite: down 2.47 points, or 0.01%, to 21,710.67.

Headwinds for Equities

Seven out of the eleven S&P 500 sectors ended the day lower. Recent figures showing a weak labor market and moderate consumer price growth had strengthened expectations that the Federal Reserve might cut rates as early as next month. However, the latest producer price report reignited concerns that US import tariffs could soon start influencing costs, potentially slowing the rally that had pushed the S&P 500 and Nasdaq to record highs over the past two sessions.

Intel Grabs the Spotlight

Intel Corp shares surged 7.4 percent after Bloomberg reported that former President Donald Trump's administration is in talks with the company about a possible government stake. Sources familiar with the matter say discussions are underway between the US government and the chipmaker, potentially paving the way for public ownership in the tech giant.

Cisco Leaves Investors Unmoved

Cisco Systems shares slipped 1.6 percent. Although the network equipment maker's earnings were largely in line with analyst forecasts, the results failed to spark notable investor interest.

Deere and Tapestry Disappoint

Deere & Co shares dropped 6.8 percent following weaker quarterly earnings and a tightened full-year profit outlook. Tapestry saw an even sharper decline, with its stock plunging 15.7 percent after the Coach brand owner projected annual earnings below market expectations.

New Highs Amid Low Trading Volume

The S&P 500 posted 15 new 52-week highs and one new low, while the Nasdaq Composite registered 78 new highs and 78 new lows. Trading activity remained subdued, with 16.3 billion shares changing hands on US exchanges, compared to a 20-day average of 18.3 billion.

Asian Markets React to US Data

Asian stock markets closed the day mixed, as traders weighed possible moves by global central banks. The cautious sentiment followed a surprise jump in US producer price data, which reignited inflation concerns.

Asia Reacts to US Economic Data

The MSCI broad index of Asia-Pacific shares excluding Japan slipped 0.2 percent after the US Bureau of Labor Statistics reported that the Producer Price Index rose 0.9 percent in July from the previous month, well above economists' forecasts.

Traders Rethink Fed Outlook

The stronger-than-expected PPI figures dampened investor expectations for a swift interest rate cut by the Federal Reserve in September, as overly loose policy could risk fueling inflation.

Dollar and Nikkei Move in Opposite Directions

Following the release of the US inflation data, the dollar index — which tracks the greenback against a basket of major trading partner currencies — recovered some ground before edging down 0.2 percent to 98.026. In Japan, the Nikkei 225 advanced 1.6 percent, nearing a record high. The rebound came after Thursday's sharp drop, the steepest since April, which ended a six-day winning streak. Fresh GDP data showed Japan's economy expanded by 1.0 percent year-on-year in the second quarter, beating expectations. The US dollar weakened against the yen by 0.5 percent to 147.09.

Mixed Regional Performance

Australia's S&P/ASX 200 index climbed 0.7 percent, while Hong Kong's Hang Seng lost 1.1 percent. China's CSI 300 rose 0.8 percent after weaker-than-expected July retail sales and industrial production figures fueled speculation about new economic stimulus measures. Equity markets in India and South Korea were closed for public holidays.

Crypto Market Finds Its Footing

After a sharp reversal from Thursday's record high of 124,480.82 dollars, bitcoin stabilized, failing to break through the next key threshold. By the latest trading session, the leading cryptocurrency was up 0.8 percent, while ether gained 1.7 percent.

Oil Slips Ahead of Leaders' Meeting

In commodity markets, Brent crude fell 0.3 percent to 66.63 dollars per barrel. Traders are eyeing the upcoming meeting between US President Donald Trump and Russian President Vladimir Putin, set to take place in Alaska.

Gold Fluctuates on Rate Expectations

Gold prices eased slightly as investors assessed real interest rate movements, which typically move inversely to the precious metal's value. Spot gold was last up 0.3 percent, trading at 3,343.94 dollars per ounce.

European Markets Open in Positive Territory

At the start of European trading, pan-regional futures advanced 0.5 percent. German DAX futures and UK FTSE contracts also rose by the same margin.