Stock Market Today: S&P 500 closes higher on tech strength; big bank earnings eyed

Investing.com-- The S&P 500 closed higher Thursday, led by tech, as data showing cooling producer prices eased inflation jitters somewhat just a day ahead of earnings from major Wall Street banks.The data come just a day after consumer inflation data for March rose more than expected, denting investor optimism for a Federal Reserve rate cut as soon as June.) stock rose more than 1% to a new 52-week high after the drinks giant delivered an earnings beat on the back of strong beer sales.

The duo of quarterly report come just a day ahead of earnings from Wall Street banks including JPMorgan Chase and more news on capital returns through the CCAR ," Goldman Sachs said in a note that recommended clients buy call options in large cap banks.Amazon, meanwhile, closed a record high after the Amazon CEO Andy Jassy talked up the opportunity for AWS as cloud computing is set for a major boost from generative artificial intelligence.) rose more than 3% after Bank of America upgraded its rating on the stock to buy from neutral, citing a compelling valuation.

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