S&P 500 Hits Record High As Nasdaq Rallies On Soft PPI
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- S&P 500 notched a record high, with the rally driven in part by moves in Workday, Sandisk, and oil prices, according to Investor's Business Daily.
- Nasdaq rallied alongside the S&P 500 after soft inflation data, while Wall Street futures held steady following a softer PPI print, with Applied Materials earnings slated for after the close.
Why it matters: Soft PPI and inflation prints were enough to push the S&P 500 to a fresh record and lift the Nasdaq, signaling that rate-cut hopes are doing the heavy lifting for stocks even as Applied Materials' late-session report looms as the next major test.
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