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Heard on the Street Tuesday Recap: Run AMC

·1 min

The producer-price index (PPI) for April surprised economists as wholesale inflation was higher than expected. However, there was some positive news as the PPI reading for March was revised down. Investors were primarily focused on signals indicating a potential interest rate cut by the Federal Reserve. As a result, the Nasdaq Composite led the gains, rising by 0.8%. Meanwhile, the S&P 500 increased by 0.5% and the Dow Jones Industrial Average closed up 0.3% (or 127 points).