Stocks Soar as Inflation Eases and Oil Prices Fall

The US stock market rose to an all-time high on Thursday after inflation showed signs of easing. The S&P 500 climbed 0.7% and topped its prior record set last week, while the Dow Jones Industrial Average added 69 points, or 0.1%, and the Nasdaq composite gained 0.8%. The improvement in inflation numbers could lead to a delay in interest rate hikes by the Federal Reserve.

The wholesale price index rose 4.7% year-over-year in July, down from June's 5.5% rate and slightly better than economists expected. This trend may influence the Fed's decision on whether to raise interest rates at its next meeting in September, with traders now betting on a 35% chance of a hike.

The real-estate industry saw significant gains, with AvalonBay Communities rising 2.3% and Homebuilder D.R. Horton adding 2.8%. Fossil Group climbed 5.9% after reporting better-than-expected quarterly results. However, Cisco Systems fell 8.4%, despite stronger profit and revenue numbers.