Equity Markets Mixed After Producer Price Report; Oracle Soars

02:29 PM EDT, 09/10/2025 (MT Newswires) -- US benchmark equity indexes were mixed intraday as traders weighed a report showing a surprise drop in August producer prices, while Oracle (ORCL) shares soared on demand momentum.

The S&P 500 was up 0.3% at 6,534.3 after midday Wednesday, while the Nasdaq Composite rose 0.1% to 21,903.5. The Dow Jones Industrial Average fell 0.5% to 45,463.8. On Tuesday, all three indexes closed at all-time highs.

Among sectors, technology paced the gainers intraday Wednesday, while consumer discretionary saw the biggest drop.

In economic news, US producer prices fell for the first time in four months in August, defying Wall Street's expectations for a rise, government data showed.

"An outright disinflationary producer price report -- at least for the month -- seemingly solidifies a (25-basis-point) federal funds rate cut next week," Stifel said. "This morning's (producer price index) report, however, does not necessarily affirm the need for a larger (50-basis-point) cut, although there may be a dissent or two in favor of more aggressive action."

On Thursday, official data are expected to show that US consumer inflation accelerated to 0.3% sequentially in August from 0.2% reported for the month prior and to 2.9% annually from 2.7%, according to a Bloomberg-compiled consensus.

US Treasury yields were lower intraday Wednesday, with the 10-year rate dropping 4.2 basis points to 4.03% and the two-year rate losing 1.3 basis points to 3.53%.

In company news, Oracle shares surged 40%, the top gainer on the S&P 500. The cloud computing company late Tuesday offered strong growth prospects, including an expected surge in remaining performance obligations, which are future commitments arising from contractual relationships.

Oracle could become "the biggest large-cap growth acceleration story" across the tech space, UBS Securities said in a note e-mailed Wednesday.

Nvidia (NVDA) shares were up 4.4% intraday, the best performer on the Dow, while Broadcom (AVGO) was among the top gainers on the S&P 500 with a 7.8% jump.

Synopsys (SNPS) was the worst performer on the S&P 500, down nearly 36%. The software company late Tuesday cut its full-year profit outlook after its fiscal third-quarter earnings unexpectedly declined year over year amid underperformance in its IP business.

Apple (AAPL) shares were down 3.2% intraday Wednesday, the biggest drop on the Dow. On Tuesday, the tech giant announced several new products, including its iPhone 17 lineup.

"The launch of the next-generation iPhone 17 series checked all the boxes from a product iteration perspective," UBS said in a note e-mailed Wednesday. "Apple (AAPL) did not announce any material updates to Apple Intelligence."

West Texas Intermediate crude oil was up 2% at $63.85 a barrel intraday. On Tuesday, Israel launched strikes targeting Hamas' leadership in Doha, Qatar, CNN reported.

The US Supreme Court agreed to hear the Trump administration's arguments challenging a lower court ruling on tariffs, according to an order released Tuesday. The US Court of Appeals for the Federal Circuit recently ruled that most of tariffs were illegal.

In a late Tuesday post on Truth Social, Trump said the US is "continuing negotiations" with India to address trade barriers between the two countries. The post comes amid a Financial Times report that said the US leader has asked the European Union to impose 100% duties on India and China to put pressure on Russia due to its war with Ukraine.

Gold was little changed at $3,681.50 per troy ounce, while silver increased 0.6% to $41.59 per ounce.

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