Stocks close higher, surging amid key inflation data

All three of the market averages (^DJI, ^IXIC, ^GSPC) are ending Tuesday's trading session in the green. The Nasdaq Composite closed over 2.4% higher, followed by a 1.68% gain in the S&P 500 after this morning's Producer Price Index (PPI) report for July. Markets are anticipating July's Consumer Price Index (CPI) due out Wednesday morning.

Julie Hyman and Jared Blikre recap the day's market movements while taking a look at the volatility index (^VIX) and Nasdaq 100 (^NDX) leaders.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video Transcript

There's the closing bell on Wall Street, and now it's market domination.

Over time, we're joined by Jared to get you up to speed on the action from today's session.

Let's start with where we ended the day and looks like pretty much the highs of the session, in fact, so the Dow finishing up by 408 points, a little better than 1%.

So definitely seeing this rebound that has taken hold here still hasn't taken us back on a full round trip, but nonetheless got some momentum behind us.

We had the PP I report this morning, wholesale inflation coming in milder than expected.

We have consumer inflation, that reading coming tomorrow morning and a lot of attention on that this week, as well as retail sales still in jobless claims on Thursday, the S and P 500 up at 1.7%.

It too, at the highs of the session, and the same goes for the NASDAQ, up 2.4%.

The small caps participating in the action today and volatility getting a little milder compared with what we have seen as of late, not surprising given the rally that we saw in stocks.

Jared's got a closer look at today's action.

Hey, Jared.

Hey.

I'm glad you left off on the V because 18.

Wow, that's pretty unexpected, given the fact that it hit north of 61 week ago.

There's that spike right there.

Uh, NASDAQ 100 is another market I had my eye on.

I believed it closed in July.

Territory we can put some candlesticks on and you go back here.

I believe it did.

So a little bit of a milestone for the NASDAQ 100 but not the others.

I don't think now here is the, uh, sector action today XL K. That is tech.

That was up over 3%.

Really?

Nice day for tech consumer discretionary, That's XL Y.

That was also looking good.

Here's a year to day chart real quick.

Uh, you can see actually, right back to the flat line.

Energy was the only sector in the red And just check out the last two days here, you can see tech up almost 4%.

Uh, it is the second day in a row that tech has led.

Now let's put it back on the NASDAQ 100.

We can see Mega cap is getting a lot of love today.

Invidi up 6% Broadcom up 5%.

So really a day of, uh, a lot of nice action price action in the semiconductors.

Also looking at unprofitable tech, we can look inside the Arc Innovation Fund.

See Tesla there?

That's a 5%.

That's a litre, but really all except Robin Hood.

And this is just a sampling of those stocks in the RARK ETF all of them.

But Robinhood in the green here, so kind of a tech risk on comeback that we're seeing now here are leaders only small oil and K Web.

That's a Chinese Internet ETF those traded to the downside.

So let's check out China real quickly to get a sense of where they stand.

Uh, we can see a couple of those, uh, some downside, uh, leaders here TMITME that would be Tencent Music Entertainment down about 15%.

Uh, but for the most part, seem more green than red.

We can also take a look at meme stocks for risk on appetite, and we're seeing it there.

Look at that.

Carvana up 9%.

Pent up 3% coin base, also up 3%.

So risk on spreading beyond tech today