03:59 PM EDT, 08/13/2024 (MT Newswires) -- US benchmark equity indexes ended higher Tuesday after official data showed producer prices increased less than projected in July.

* The US producer price index rose 0.1% month over month in July on a seasonally adjusted basis, the Bureau of Labor Statistics reported. This compared with the Bloomberg-polled consensus for a 0.2% gain. PPI climbed 2.2% annually last month, below the 2.3% pace that analysts were projecting.

"A cooler-than-expected PPI report offers welcome support for those in favor of a near-term rate reduction," Stifel said in a note to clients.

* Redbook reported that US same-store retail sales were up 4.7% year-over-year in the week ended Aug. 10, slower than a 5.1% gain in the prior week. Back-to-school sales and tax holidays drove overall sales as consumers remained cautious about discretionary spending.

* September West Texas Intermediate crude oil closed down $1.71 to settle at $78.35 per barrel, while October Brent crude, the global benchmark, was last seen down $1.57 to $80.73 despite continuing Middle East tensions and a lower-than-expected rise in a key U.S. inflation measure as the International Energy Agency said it expects weak demand growth this year and next as China's economy struggles.

* Starbucks ( SBUX ) has poached Chipotle Mexican Grill ( CMG ) Chief Executive Brian Niccol, who will assume the top role at the coffee giant next month. Starbucks ( SBUX ) shares jumped 23% while Chipotle declined 7.3%.

* Baxter International ( BAX ) has sold its kidney care segment to private-equity firm Carlyle Group ( CG ) for $3.8 billion. Baxter shares fell 6.2% while Carlyle rose 2.4%.