US Stocks Soar to New Highs Amid Easing Inflation and Oil Prices

The US stock market continued its upward trend on Thursday, August 13, reaching an all-time high after a report showed inflation at the wholesale level was 4.7% higher last month than a year earlier.

This is a slight improvement from June's 5.5% inflation rate and better than economists expected. The S&P 500 climbed 0.7%, topping 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 easing of oil prices also contributed to the market's rise, with Brent crude oil falling 2.1% to $87.07 per barrel. Treasury yields sank in the bond market, putting less pressure on stocks and other investments.

Real-estate industry stocks performed well, led by AvalonBay Communities and Homebuilder D.R. Horton, which rose 2.3% and 2.8%, respectively. Fossil Group also climbed 5.9% after reporting better-than-expected results for the latest quarter.