Stocks closed mixed Wednesday, though two of the three main indexes notched new record closing highs. In focus was an encouraging reading on wholesale prices, as well as a broader rally in artificial intelligence (AI) stocks, while market participants also kept a close eye on the latest offering to hit the Street.
Ahead of the open, the Bureau of Labor Statistics said the Producer Price Index (PPI), which measures what businesses are paying suppliers for goods, fell 0.1% from July to August – coming in below economists' estimates for a 0.3% rise. Year over year, PPI was up 2.6%.
