S&P 500 Snaps Losing Streak on Cooler Inflation, Tech Rebound

Stocks rebounded Thursday as a cooler-than-expected inflation report lifted hopes that the Federal Reserve would cut interest rates further. An optimistic outlook in the tech sector also boosted sentiment.

The S&P 500 Index snapped a four-session losing streak and closed 0.8% higher. Consumer discretionary was the top-performing of 11 sectors in the market, while energy fell along with crude oil prices. Micron Technology Inc. was the top-performing stock in the benchmark after providing an upbeat forecast, citing the ability to charge more for products given rising demand and supply shortages.