Brendan McDermid/Reuters
- US stocks jumped on Thursday on more signs of falling inflation and a cooling labor market.
- Investors cheered data that showed a big drop in the Producer Price Index in March.
- All three major indexes ended higher, with the S&P 500 notching its best day since February.
US stocks jumped on Thursday amid more signs of falling inflation and and a softening labor market, paving the way for the Federal Reserve to possibly pull back on its rate hike campaign.
The three major indexes ended the session with a gain, with the Dow Jones Industrial Average gaining almost 400 points and the S&P 500 enjoying its best day since February.
Investors cheered a steep decline in the producer price index in March. Wholesale inflation tumbled to 2.7% on an annualized, its lowest level since January 2021.