S&P 500 closes at record high as inflation cools

U.S. equities advanced after July PPI cooled more than expected, reinforcing expectations that the Fed may stay on hold in September. The S&P 500 hit a fresh record at 7,798 (+0.7%) and the Nasdaq gained 0.8%, led by strong tech sentiment and a sharp rebound in AI‑hardware names, with SanDisk jumping nearly 14%.

Brent eased below $87 on a large U.S. inventory build and global demand downgrades. Domestically, the rupee weakened on importer dollar demand, while Nifty held firm at 24,395, staying above key moving averages. Supports: 24,265 / 24,000; resistances: 24,630 / 24,750.