Good afternoon and welcome to Markets Desk.
Equity markets pushed higher Thursday as a cooler-than-expected producer price index report gave investors fresh confidence that inflation is easing. The S&P five hundred gained nearly two thirds of a percent, briefly clearing seven thousand eight hundred for the first time intraday, with the Nasdaq adding eight tenths of a percent on the session.
The single biggest mover on the day was Workday, the human resources software company, which surged eighteen percent after reports surfaced of a potential private equity buyout. The move was historic for the stock and reignited conversation about whether a broader wave of take-private deals could be coming for enterprise software names that have lagged the broader tech rally.
Meanwhile, at the long end of the Treasury market, the government sold thirty-year bonds at the highest borrowing costs since two thousand one, with yields reflecting deep investor anxiety over the trajectory of federal debt and the durability of inflation. That auction result is a meaningful signal — it tells you the bond market is demanding a real premium to lend Washington money for three decades, and that pressure is unlikely to fade soon.
That's the tape. Markets Desk, signing off the floor.
