* Indexes: Dow down 0.18%, S&P 500 up 0.43%, Nasdaq up 0.58%

* Dell, HP gain after robust earnings from Lenovo ( LNVGF )

* Tapestry bottoms the S&P 500 after quarterly report

* July producer inflation data comes in softer-than-expected

(Updates prices throughout, and adds analyst comments)

By Avinash P and Purvi Agarwal

Aug 13 (Reuters) - The S&P 500 climbed to an intraday record

high on Thursday, powered by advances in semiconductor and other

heavyweight technology stocks, as a retreat in crude prices and

a tame producer price inflation reading lifted risk appetite.

Sandisk ( SNDK ) and Micron were among the top

gainers on the benchmark index, rising 15% and 5.6%,

respectively. The broader chip index added 1.8% and hit

a nearly one-month high.

Technology stocks also boosted the Nasdaq, while the S&P 500

information technology index gained 0.9%, helped by

modest gains in Microsoft ( MSFT ), Nvidia ( NVDA ) and Apple ( AAPL )

.

"We're starting to see broad-based earnings really pick up

across sectors ... where the value is not going to just solely

be accrued to semiconductor and data center names, but now back

into the actual model builders themselves," said Josh Chastant,

managing director of public markets at GuideStone.

"That direction of travel will be good for the overall

broad AI trade."

At 12:04 p.m. ET, the Dow Jones Industrial Average

fell 96.14 points, or 0.18%, to 53,674.13, the S&P 500

gained 33.09 points, or 0.43%, to 7,781.59 and the Nasdaq

Composite gained 153.18 points, or 0.58%, to 26,741.66.

Cisco Systems ( CSCO ) dropped 9% despite the networking

equipment maker forecasting fiscal 2027 revenue above Wall

Street expectations and bogged down the Dow.

Brent crude futures retreated 3% after six

consecutive sessions of gains as investors assessed prospects

for weaker global demand this year and higher U.S. crude stocks.

Iran and the United States remain at loggerheads over

efforts to agree on a permanent end to the war in the Middle

East, according to a senior Iranian source, while traffic

through the vital Strait of Hormuz remained severely curtailed.

U.S. producer prices were unchanged in July as goods prices

fell and the cost of services increased marginally, while the

number of Americans filing claims for unemployment benefits

increased moderately last week, pointing to a stable jobs

market, data showed.

This follows benign July consumer inflation data that

strengthened expectations that the Fed would hold interest rates

steady at its next meeting.

Traders added to bets on a Fed interest rate hold next

month, pricing in a 65% chance compared with 60% before the

print, futures that settle to the Fed's policy rate showed.

The Dow was hovering close to its record high, while

the Nasdaq was around 1.6% below its own peak.

Robust earnings in several sectors, including technology,

have provided the latest tailwind for U.S. stocks after a rocky

start to the second half of 2026.

Netflix ( NFLX ) added 3.3% after billionaire investor Bill

Ackman unveiled a new holding in the streaming giant as part of

Pershing Square's biggest portfolio overhaul in years.

Tapestry shares plunged 14% after the Coach-owner

forecast sluggish annual revenue growth.

PC makers Dell Technologies ( DELL ) and HP gained

2.7% and 4%, respectively, after earnings from China's Lenovo ( LNVGF )

beat expectations.

Advancing issues outnumbered decliners by a 1.78-to-1 ratio

on the NYSE and by a 1.41-to-1 ratio on the Nasdaq.

The S&P 500 posted 28 new 52-week highs and one new low,

while the Nasdaq Composite recorded 129 new highs and 68 new

lows.