The Prime Daily - 14 August 2026

Authored By Prime Research | Published at: Aug 14, 2026 11:49 AM IST

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S&P 500 closes at record high as inflation cools

The S&P 500 rose 0.7% to a record intraday and closing high of 7798; the Nasdaq Composite gained 0.8%. The rally followed July PPI report, which showed wholesale inflation cooling to 4.7% YoY — below expectations — cutting odds of a September Fed rate hike to 35% from 40% and pulling the 10-year Treasury yield down 4bps to 4.639%.

Brent oil fell over 2% to about $87, snapping a multi-day rally. A surprise 17.4 million-barrel U.S. inventory build, combined with 2026 demand-growth downgrades from OPEC and the IEA, outweighed supply risk from the Strait of Hormuz — prices extended losses even after the UAE reported Iran struck two oil vessels there, signaling demand concerns are currently dominating supply fears.

SanDisk jumped nearly 14% on bullish fiscal 2028–2030 revenue guidance. In space stocks, fell 3.5% and Intuitive Machines slid about 1.6% on a revenue miss and wider-than-expected loss.

Spot gold fell over 1% to near $4,354/oz, pulling back from a fresh two-month intraday high near $4,450. The DXY dollar index slipped below 100.00 as the cooler PPI print and higher jobless claims cut expectations for further Fed tightening, even as Cleveland Fed’s Beth Hammack reiterated her call for a rate hike.

The Indian rupee depreciated steadily during yesterday’s session amid strong dollar demand from importers. Sentiment was also weighed down by the previous day’s inflation reading, resulting in the rupee underperforming its Asian peers. The domestic currency closed 11 paise lower at 95.45 against the US dollar.

Nifty continued to trade in a choppy range but managed to close at 24,395. This marks the second consecutive session in which the index has closed above these key moving averages and remains an encouraging sign for the bulls.

The immediate support is placed at 24,265, followed by the psychologically important level of 24,000. On the upside, 24,630 and 24,750 remain the key resistance zones to watch. Sustained trading above 24,265 could keep the short-term bias positive, while a decisive close below 24200 would weaken the setup.

Indian equities are set for a mildly negative note on lack of strong global cues.

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