--- title: "Stock Market Today: SPY Climbs to Record High as PPI Inflation Sends Rate Hike Odds Tumbling" type: "News" locale: "en" url: "https://longbridge.com/en/news/295843638.md" description: "SPY hit a record high as July PPI data came in below expectations, reducing odds of a September rate hike. Workday surged on acquisition rumors, while AMD plans a $5B bond sale. Cisco plunged on margin declines, and memory stocks like Micron gained." datetime: "2026-08-13T20:21:37.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295843638.md) - [en](https://longbridge.com/en/news/295843638.md) - [zh-HK](https://longbridge.com/zh-HK/news/295843638.md) --- # Stock Market Today: SPY Climbs to Record High as PPI Inflation Sends Rate Hike Odds Tumbling Both the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) closed higher on Thursday, with the former setting a new intraday all-time high. ### Claim 55% Off TipRanks - Unlock powerful investing tools with TipRanks Premium to make smarter, more confident investment decisions - Subscribe to TipRanks Smart Investor Newsletter, and discover new investing opportunities with data-backed stock picks ## **News That Moved the Stock Market Today** - The Producer Price Index (PPI) was unchanged in July from the prior month, below the consensus estimate for 0.2% growth. The index rose 4.7% year-over-year, also below the estimate of 4.9%. - Core PPI, which strips out volatile food and energy items, rose 0.2% in July, coming in below the 0.3% forecast. On a year-over-year basis, it increased 4.2%, slightly exceeding expectations of 4.1%. - Rate hike odds dipped following the report. The odds of a 25-bp hike at the September 16 Federal Open Market Committee (FOMC) dropped to 34.4% from 40.6% a day ago, according to the CME FedWatch tool. - Elsewhere, initial jobless claims rose by 9,000 to 209,000 for the week ended August 8. That came in above expectations of 202,000. Continuing jobless claims, which trail initial claims by a week, declined by 22,000 to 1.777 million, below the estimate of 1.794 million. - Workday (WDAY) surged after _Reuters_ said that private equity firm Silver Lake is in talks to acquire the software giant. - Advanced Micro Devices (AMD) is planning its largest-ever U.S. dollar investment-grade bond sale, aiming to raise up to $5 billion, according to _Bloomberg_. - Cisco (CSCO) plunged after its second-quarter earnings showed its gross margins falling to 66.3% from 68.4% a year ago. - Memory stocks continued to trend higher, with SanDisk (SNDK), Micron (MU), and Western Digital (WDC) posting significant gains. ### Related Stocks - [CSCO.US](https://longbridge.com/en/quote/CSCO.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [WDAY.US](https://longbridge.com/en/quote/WDAY.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [CSCS.US](https://longbridge.com/en/quote/CSCS.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [CSCL.US](https://longbridge.com/en/quote/CSCL.US.md) - [MUYY.US](https://longbridge.com/en/quote/MUYY.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md) - [AMDG.US](https://longbridge.com/en/quote/AMDG.US.md) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [CME.US](https://longbridge.com/en/quote/CME.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) - [WDCVV.US](https://longbridge.com/en/quote/WDCVV.US.md) ## Related News & Research - [Anthropic’s Massive AI Buildout Is Another Bullish Signal for AMD Stock](https://longbridge.com/en/news/295700576.md) - [Cisco Stock: Are Politicians Buying or Selling CSCO Shares Ahead of Earnings?](https://longbridge.com/en/news/295557846.md) - [First Community Trust NA Purchases 1,279 Shares of Micron Technology, Inc. $MU](https://longbridge.com/en/news/295762409.md) - [Micron Upgraded to Buy on the Claim Memory Stopped Being Cyclical](https://longbridge.com/en/news/295956390.md) - [Cisco Q4 Preview: Stock Up 60% in 2026, Market Expert Sees 64% More Upside After Earnings](https://longbridge.com/en/news/295561853.md)