By Tech giants like Nvidia, Apple, and Tesla drove U.S. stocks higher on Thursday, February 13, 2025, as investors welcomed slowing wholesale inflation and President Donald Trump’s decision to delay reciprocal tariffs. The Nasdaq Composite rose 1%, while the Dow Jones Industrial Average and S&P 500 gained 0.3% and 0.6%, respectively.
The Producer Price Index (PPI) showed wholesale inflation rose 0.4% in January, slightly above economists’ expectations but below December’s 0.5% increase. Core PPI, excluding food and energy, rose 0.3%, signaling a deceleration in price pressures. This data pushed market expectations for a Federal Reserve rate cut to the end of the year, easing concerns about aggressive monetary tightening.
Tesla shares rose after reports of a potential government contract for armored electric vehicles, while Cisco Systems and Applovin saw significant gains after strong earnings reports. Reddit shares fell due to disappointing user growth. Investors also welcomed Trump’s decision to delay implementing reciprocal tariffs on countries that tax U.S. imports.