Stock market today: S&P 500 and Nasdaq gain on soft inflation data, Dow dips

Stock market today: S&P 500 and Nasdaq gain on soft inflation data, Dow dips

Grace O'Donnell and Jake Conley

Updated Thu, August 13, 2026 at 7:02 PM GMT+3 2 min read

US stocks mostly rose on Thursday morning after another inflation reading that eased September rate-hike bets and a slew of earnings reports.

The S&P 500 (^GSPC) rose 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) moved up 0.2% after a calm day on Wall Street. Dow Jones Industrial Average (^DJI), meanwhile, dipped about 0.2%.

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Cisco (CSCO) and Cerebras (CBRS) stocks tanked on Thursday morning after the two AI-related companies reported earnings. Applied Materials (AMAT), which makes chipmaking equipment, reports results after the market close following a whopping 190% gain for its stock over the past year.

Data from the Producer Price Index, which tracks inflation from the sellers' perspective, showed prices rising by less than expected, another positive sign for investors after Wednesday's Consumer Price Index report showed inflation easing in July. So-called core readings showed slowdowns of both monthly and annual price appreciation.

Though cooling CPI and PPI data prompted traders to fade bets of a September rate hike, it likely wasn't enough to settle the divide among policymakers, and Fed watchers still expect at least one rate hike by the end of the year.

One key inflation input — oil prices — fell on Thursday as President Trump pivots from an active military campaign to one focused on economic pressure. The Trump administration has stated that the US retains "total control" over the Strait of Hormuz, disputing private data showing low shipping traffic.

Initial jobless claims data on Thursday showed first-time unemployment filings ticked up week over week, while continuing claims, which track people remaining on unemployment, fell — a coda to last week's surprisingly weak jobs report. And earnings from Tapestry (TPR), Dillard's (DDS), and Birkenstock Holding (BIRK) could give investors insight into how retailers are managing tariff refunds.