Business

Stocks Climb as Cooler-Than-Expected PPI Lifts Rate Cut Bets

By Bloomberg News

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Stocks Climb as Cooler-Than-Expected PPI Lifts Rate Cut Bets

The S&P 500 Index opened 0.5% higher, led by the tech and energy sectors, extending gains after closing at a record on Tuesday. Oracle Corp. was the top-performing stock in the index, soaring after providing an aggressive outlook for its cloud business. The forecast follows an upbeat revenue outlook for Alphabet Inc.’s cloud computing division.