Stocks Rally Toward Record on Cooler PPI Growth, Oil-Price Drop

US stocks rallied back to the cusp of a record high as cooler-than-expected wholesale price increases eased concerns about an inflation-shock and oil dropped on optimism the new peace talks may hasten the end of the US-Iran war.

The S&P 500 Index ended the day 1.2% higher and flirted with January’s record high for much of the afternoon. It’s the first time the US stocks benchmark posted back-to-back gains of over 1% since April 2025. Airlines were among the top-performing stocks, with United Airlines Holdings Inc. gaining after pitching rival American Airlines Group Inc. on a potential combination.