Stocks Rally for Second Straight Day

Stocks jumped for a second day Thursday as investors cheered another better-than-expected inflation report.

The Dow Jones Industrials ballooned 267.45 points to commence Thursday at 33,576.96

The S&P 500 advanced 38.5 points to 4,248.74.

The NASDAQ Composite jumped 135.38 points, or 1%, to 12,990.19.

Earnings reports were also boosting the major averages. Disney shares jumped more than 7% after the media giant posted stronger-than-anticipated subscriber numbers for the last quarter, along with earnings and revenue that topped expectations.

Disney also said it would raise prices for Disney+.

Investor sentiment got a boost when the July producer price index showed a surprise decline from June. PPI dropped 0.5%, compared to an estimate of a 0.2% gain, according to a Dow Jones survey. The PPI reading excluding food and energy rose less than expected.

Treasury prices were static, keeping yields at Wednesday’s 2.79%.

Oil prices grew $1.05 to $92.98 U.S. a barrel.

Gold prices sank 60 cents to $1,813.10 U.S. an ounce.