S&P 500 Jumps Despite Hot Inflation Data

The S&P 500 is up today as investors bounce back from higher-than-expected inflation in yesterday’s Consumer Price Index (CPI) report. That’s despite the release of the January Producer Price Index (PPI) report today, which included inflation that was hotter than estimates.

It seems investors have accepted that inflation will continue to stick around. That also affects interest rates, which are likely to remain at current levels for the months to come. Some estimates claim the Federal Reserve may not cut rates again until October.

The SPX is up 0.26% as of this writing, extending its 2.9% increase year-to-date. Market optimism remains high in the face of increased inflation, unlikely interest rate cuts, and President Donald Trump’s threats of introducing retaliatory tariffs later today.

Which Stocks Are Keeping the SPX Up Today?

Turning to the TipRanks SPX heatmap tool, investors will see which stocks are boosting the index higher on Thursday. The heatmap is largely green today with Nvidia (NVDA) and Tesla (TSLA) doing the heavy lifting. Intel (INTC) and Micron (MU) are also helping with strong gains this morning.

How to Invest in the S&P 500

Investors can’t take a direct stake in the S&P 500 as it’s only an index. Instead, they might consider buying shares of stocks listed on it. Those wanting to track the biggest gainers will keep in mind the stocks mentioned above. Buying dips today could also be a solid strategy, but due diligence is required to avoid an investment failure.

Another option is letting an exchange-traded fund (ETF) do the work instead. There are plenty that track the SPX, with some betting on and against the index. One popular choice is the SPDR S&P 500 ETF Trust (SPY) but other solid options are available.

See more SPX ETFs