Wall Street closed modestly higher on Thursday (Friday AEST), lifted by a strong Oracle rally and encouraging inflation data, although trade concerns kept gains in check.
The Dow Jones Industrial Average added 101.9 points, or 0.2%, to settle at 42,967.6, the S&P 500 rose 23 points or 0.4% to finish at 6,045.3, and the Nasdaq Composite edged up 46.6 points or 0.2% to 19,662.5.
Technology stocks led the charge, driven by a 13.3% surge in Oracle after the company delivered better-than-expected fiscal fourth-quarter results.
The software giant also projected robust future cloud growth, as CEO Safra Catz cited surging artificial intelligence demand.
Oracle’s rally helped offset weakness in Boeing, which dropped nearly 4.8% following a crash involving an Air India Dreamliner 787 shortly after takeoff. The incident, which involved 242 passengers, weighed on aerospace sentiment.
Economic data offered further support, with the May producer price index (PPI) rising just 0.1%, below economists' expectations of a 0.2% increase. The reading follows a 0.2% decline in April, reinforcing hopes of cooling inflation.
Bond yields declined in response, with 10-year and 2-year Treasury yields falling to 4.365% and 3.912%, respectively.
