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Stocks Surge on Positive Retail Sales and PPI Data: Stay Up-to-date with Latest Stock Market News Today

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Wall Street Stocks Pop as Retail Sales and Wholesale Price Inflation Data Boost Investor Confidence


On Thursday, Wall Street stocks experienced a surge as investors analyzed the latest retail sales and wholesale price inflation data. These indicators provide insights into the Federal Reserve’s potential actions on interest rates.

Stock Market Performance

  • The S&P 500 (^GSPC) rose by 0.7%.
  • The Dow Jones Industrial Average (^DJI) increased by 0.9% or around 300 points.
  • The Nasdaq Composite (^IXIC) saw a gain of approximately 0.8%.

Retail Sales Data

August’s retail sales figures surpassed expectations, indicating the strength of the US consumer despite rising interest rates.

  • Sales grew by 0.6% compared to the expected 0.1%.
  • Increased spending on gas contributed to the growth in retail sales.

Wholesale Price Inflation

The Producer Price Index (PPI) for August showed a 0.7% increase, suggesting persistent inflationary pressures despite the Fed’s efforts to control them.

  • “Core” wholesale inflation, which excludes volatile food and energy prices, rose by 2.2%.

Arm’s Blockbuster IPO

Chip designer Arm’s highly anticipated initial public offering (IPO) on the Nasdaq resulted in a valuation of $54.5 billion.

  • Arm’s stock price quickly rose above $57 per share during the first 15 minutes of trading.

Impact of Oil Prices

Oil prices remained a focal point due to their influence on inflation and stock market performance.

  • WTI crude (CL=F) and Brent (BZ=F) futures were trading near 10-month highs on Thursday.

European Central Bank’s Interest Rate Hike

The European Central Bank increased its interest rates for the 10th consecutive time, reaching 4%, the highest level since the euro’s launch in 1999.

  • ECB policymakers also raised their inflation forecast, projecting sustained high inflation levels.


Wall Street experienced a positive shift as retail sales and wholesale price inflation data provided investors with confidence. The retail sector showcased continued strength, while inflationary pressures remained a concern. The successful IPO of Arm and the rally in oil prices also contributed to market optimism.

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