NEW YORK, August 13, 2026, 12:23 EDT — US equity markets were open.
- Advancers outnumbered decliners by more than two to one on both major exchanges.
- The S&P 500 crossed 7,800 and set an intraday record.
- July producer prices were flat, while the 10-year Treasury yield fell.
US stocks advanced broadly Thursday after July wholesale inflation undershot forecasts. The S&P 500 crossed 7,800 and reached a record. At first mention, the exchange-traded proxies are the SPDR S&P 500 ETF Trust NYSEARCA:SPY, Invesco QQQ Trust NASDAQ:QQQ and SPDR Dow Jones Industrial Average ETF Trust NYSEARCA:DIA.
The breadth matters. Roughly two stocks rose for every decliner on both exchanges. Eight of 11 S&P sectors also advanced. That makes the rally less dependent on a few giant technology stocks.
| Market gauge | Latest verified move | Level |
|---|---|---|
| S&P 500 | +0.9% | 7,815 |
| Nasdaq Composite | +0.6% | — |
| Dow Jones Industrial Average | -0.2% | Down 123 points |
The New York Stock Exchange showed 1,629 advancers and 825 decliners. Nasdaq recorded 2,287 gainers against 1,309 decliners. Those counts imply advance-decline ratios of 1.97 and 1.75. Earlier Reuters data put both ratios above two.
| Breadth measure | Advancers | Decliners | Ratio |
|---|---|---|---|
| NYSE | 1,629 | 825 | 1.97 |
| Nasdaq | 2,287 | 1,309 | 1.75 |
| S&P 500 members | 330 | Not stated | 66% advancing |
The trigger was a cooler pipeline-inflation report. Final-demand producer prices were unchanged in July. Economists had expected a stronger increase. Annual PPI slowed to 4.7% from 5.5% in June.
The detail was mixed. Goods prices fell 0.7%, helped by a 3.1% energy decline. Services rose 0.2%. The core measure excluding food, energy and trade services increased 0.4%.
| July producer-price measure | Monthly change | 12-month change |
|---|---|---|
| Final demand | 0.0% | 4.7% |
| Less food, energy and trade | +0.4% | 4.7% |
| Final-demand goods | -0.7% | — |
| Final-demand services | +0.2% | — |
Bond markets confirmed the relief. The 10-year Treasury yield fell to 4.64% from 4.68% Wednesday. Traders assigned a 34% chance to a September rate increase, down from about 50% two days earlier.
Lower yields supported real estate shares. They also eased the discount-rate pressure on technology valuations. Microsoft NASDAQ:MSFT rose 1.4%, Nvidia NASDAQ:NVDA added 0.6%, and Apple NASDAQ:AAPL gained 0.5% in an earlier snapshot.
Oil added a second tailwind. Brent crude fell as demand forecasts softened and US inventories increased. Lower oil can reduce near-term inflation pressure, although geopolitical supply risks remain.
| Investor signal | Before | Latest | Change |
|---|---|---|---|
| September Fed-hike probability | About 50% | 34% | -16 points |
| 10-year Treasury yield | 4.68% | 4.64% | -4 basis points |
| Brent crude | Prior close | $88.03 | -1.1% |
Company reactions stayed selective. Cisco Systems NASDAQ:CSCO fell 8.6% despite beating quarterly estimates. Margin concerns outweighed the headline results. That supports Brock Weimer’s view that investors still demand a clear route from spending to profits.
| Named analyst or firm view | Recommendation | Evidence cited |
|---|---|---|
| Jefferies | Overweight AI sector | Strong infrastructure earnings and sustained capital spending |
| Edward Jones strategist Brock Weimer | Selective on stocks | Market rewards spending only when profits are visible |
| Rate futures market | Fed hold favored | About 66% implied probability; 34% hike probability |
The S&P 500 reached 7,800 only seven sessions after first closing above 7,700. Its prior 100-point climb took 43 sessions. Momentum accelerated sharply.
Risks: Core producer prices still rose 0.4% last month. Oil can reverse quickly, and long-term yields remain elevated. Intraday breadth may also narrow before the close.
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