Stock Market Today: Stocks Extend Win Streak After Promising Inflation Data
All three major indexes closed higher for a fourth straight day after this morning's June producer price index report.


Today's producer price index (PPI), which measures what businesses are charging suppliers for goods, confirmed what Wednesday's consumer price index (CPI) did – that inflation continued to ease in June.
The data were enough to keep the momentum going in stocks, with all three major indexes closing higher for a fourth straight day.
Ahead of the opening bell, the Bureau of Labor Statistics said the June PPI rose 0.1% on both a monthly and yearly basis in June, beating economists' estimates. Core PPI, which excludes volatile food and energy prices, also beat forecasts, rising 0.1% month-over-month and 2.6% year-over-year.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Separately, data from the Labor Department showed initial jobless claims fell 12,000 last week to 237,000. Continuing claims rose by 64,431 to 1.76 million.
"This morning's Producer Price Index is a sequel to yesterday's Consumer Price Index showing that inflation is continuing to weaken, which is sustaining an already strong equity rally," says José Torres, senior economist at Interactive Brokers. Additionally, this morning's jobs data "imply that the Federal Reserve can potentially continue to tighten monetary policy without significantly weakening the labor market."
PepsiCo pops after earnings
In single-stock news, Delta Air Lines (DAL) was up nearly 4% at its intraday high after the air carrier reported higher-than-expected earnings of $2.68 per share. Revenue of $15.6 billion also topped forecasts. Additionally, the company raised its full-year outlook, citing "robust" travel demand. Still, DAL finished the day down 0.5%.
PepsiCo (PEP) was also in the earnings spotlight, climbing 2.4% after its results. The soft drink and snack maker's second-quarter earnings of $2.09 per share on $22.3 billion in revenue handily beat analysts' estimates. It also lifted its fiscal 2023 guidance for the second straight quarter.
Big banks are next up on the earnings calendar, with JPMorgan Chase (JPM) and Wells Fargo (WFC) among those reporting tomorrow morning.
As for the major indexes, the Nasdaq Composite popped 1.6% to 14,138, the S&P 500 gained 0.9% to 4,510, and the Dow Jones Industrial Average rose 0.1% to 34,395.
IBM stock's disappoints long-term investors
We talk a lot about stock picking in this space. Sometimes we do so by taking a closer look at the stocks Warren Buffett is buying or selling in the Berkshire Hathaway equity portfolio. In other cases we dive into regulatory filings to see which blue chip stocks are being scooped up by hedge funds.
We've also crunched the numbers on several individual stocks to see which ones have been rock-solid investment ideas over the last two decades. Not surprisingly, several mega-cap tech stocks make the list, including Nvidia (NVDA), Apple (AAPL) and Microsoft (MSFT).
But on the other end of the scale are stocks that have been massive disappointments for investors. Take, for instance, International Business Machines (IBM). The once venerable industry leader has been a market laggard for some time now, and turned in a dismal 20-year return for investors. Just how bad? Dan Burrows, senior investing writer at Kiplinger.com, does the math on IBM stock.
Related Content
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Best Banks for Retirees 2025
National banks offer a wide variety of accounts and services, including wealth and investment management. Here's Kiplinger's pick of the best.
-
Best Banks for High-Net-Worth Clients 2025
National banks offer a wide variety of accounts and services, including wealth and investment management. Here's Kiplinger's pick of the best.
-
Dow Dives 542 Points on Soft Jobs Data: Stock Market Today
The last day of a busy week ends with the first greater-than-1% move in either direction in more than a month.
-
Stocks Can't Hold Meta, Microsoft Gains: Stock Market Today
The main indexes all opened higher Thursday on impressive Big Tech earnings, but momentum faded into the close.
-
How to Invest for a Fall Interest Rate Cut by the Fed
A lot can happen between now and then, but the probability the Fed cuts interest rates in September is back above 80%.
-
Stocks Are Up and Down on Fed Day: Stock Market Today
In another sign of changing times, JPMorgan has partnered with Coinbase to enable cryptocurrency purchases with credit cards.
-
Stocks Close Mixed to Start Fed Week: Stock Market Today
News of an EU-U.S. trade deal was met with muted reaction from market participants who are looking ahead to a jam-packed week.
-
What CEOs Say About President Trump and Fed Chair Powell
Top opinion-shapers and decision-makers are expressing mixed views on the evolving conflict between the White House and the central bank.
-
Stocks Rise After Trump-Powell Fed Tour: Stock Market Today
Nvidia hit a new all-time high intraday, but another renowned semiconductor name and some less iconic stocks were bigger movers Friday.
-
Are Buffett and Berkshire About to Bail on Kraft Heinz Stock?
Warren Buffett and Berkshire Hathaway own a lot of Kraft Heinz stock, so what happens when they decide to sell KHC?