(Updates with index/price moves from the first paragraph.)
US equity indexes rose amid broad-based gains after producer prices grew at the fastest pace in more than four years in September and government bond yields sank.
The Dow Jones Industrial Average jumped 1.2% to 52,226.3, the S&P 500 climbed 0.4% to 7,748.1, and the Nasdaq Composite edged up less than 0.1% to 26,714.5 ahead of Thursday's close. All three indexes traded lower earlier in the session.
All sectors except energy, technology, and utilities rose. Healthcare, materials, financials, and consumer discretionary topped the gainers.
US producer prices jumped at the fastest pace in more than four years in September, driven by a surge in energy costs. Energy was the steepest decliner.
The producer price index rose 1.3% last month from 0.5% in August, the Bureau of Labor Statistics said. The print marked the strongest pace of advance since March 2022, and is more than double the 0.6% climb projected in a Bloomberg-compiled survey. Annually, the PPI climbed 6.3%, the biggest jump since December 2022 and exceeding the 5.4% estimate. August was revised to a 5.6% gain from 5.4%.
US retail sales rose 0.8% in September, above the 0.3% gain expected in a Bloomberg-compiled survey and August's revised 1.3% gain, according to the US Commerce Department. A 6.4% surge in nominal gasoline spending drove most of the sales growth, Jefferies said in a note. Control group sales rose 0.1% after a 1.2% increase in August, the note said.
Most US Treasury yields declined, with the two-year down 4.7 basis points to 4.76%. The 10-year yield sank 10.1 basis points to 5.09%, and the 30-year rate plunged 9.4 basis points to 5.43%.
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