12:19 PM EDT, 07/12/2024 (MT Newswires) -- US equity indexes rose as investors weighed a higher-than-expected producer price inflation print for June alongside a surprise decline in a consumer sentiment gauge for July.

The Nasdaq climbed 0.8% to 18,420.1, with the S&P 500 up 0.7% to 5,621.2 and the Dow Jones Industrial Average 0.7% higher at 40,043.3. All sectors but two -- communication services and energy -- rose intraday, with technology and consumer discretionary among the biggest gainers.

The US Producer Price Index rose 0.2% in June following a revised steady reading in May, above the 0.1% gain expected in a survey compiled by Bloomberg. After excluding food and energy prices, core PPI rose 0.4%, above the 0.2% gain expected and following a 0.3% increase in the previous month. PPI was up 2.6% year-over-year in June, while core PPI increased by 3% year-over-year, above their respective 2.4% and 2.6% May rates.

The University of Michigan's preliminary consumer sentiment index declined to 66.0 in July from 68.2 in June, compared with expectations for an increase to 68.5 in a survey compiled by Bloomberg. Respondents saw both one- and five-year inflation expectations at 2.9%, down from 3% in June.

In company news, Wells Fargo's ( WFC ) financial results rose above market expectations for the second quarter, but the lender's net interest income declined annually and fell short of analysts' estimates. Shares slumped 6.7% intraday, the worst performer on the S&P 500.

Citigroup ( C ) reported higher Q2 earnings and net revenue, but shares fell 2.3% intraday, among the steepest decliners on the S&P 500. JPMorgan Chase ( JPM ) reported higher Q2 earnings and net revenue, but its shares slipped 0.2%, also among the laggards on the Dow.

The US 10-year Treasury yield rose less than one basis point to 4.2%, while the two-year rate fell three basis points to 4.48%.

The US Dollar index fell 0.3% to 104.11.

West Texas Intermediate crude oil climbed 0.6% to $83.11 a barrel.