* Indexes up: Dow 0.36%, S&P 500 0.73%, Nasdaq 0.92%

* 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 to markets open)

By Avinash P and Purvi Agarwal

Aug 13 (Reuters) - The S&P 500 hit an intraday record high

on Thursday, boosted by technology stocks, as a drop in crude

prices lifted risk appetite and investors parsed a

softer-than-expected producer price inflation reading.

Brent crude futures retreated 2.2% 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.

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

information technology index gained 1%.

Microsoft ( MSFT ) added 1.4%, Nvidia ( NVDA ) was up 0.6%

and Apple ( AAPL ) added 0.5%, as investors flocked back to Big

Tech stocks.

"The start of July was kind of a period of a rotation away

from some of the areas of the market, such as tech, that have

taken a backseat to some of the more cyclical-oriented sectors,"

said Brock Weimer, analyst, investment strategy, Edward Jones.

The market is showing little tolerance for companies that

increase spending without a clear path to profitability, while

rewarding those that can deliver results, he added.

Meanwhile, financial and healthcare stocks kept the Dow

afloat.

At 10:09 a.m. ET, the Dow Jones Industrial Average

rose 190.02 points, or 0.36%, to 53,960.29, the S&P 500

gained 56.52 points, or 0.73%, to 7,805.02 and the Nasdaq

Composite gained 244.05 points, or 0.92%, to 26,832.54.

Producer price figures came in at 4.7%, below expectations

of a 4.9% gain in July. This follows benign July consumer

inflation data that strengthened expectations that the Fed would

hold interest rates steady at its next meeting.

"I don't think it's really enough to sway the Fed one way or

another just from this month's data. But, it certainly doesn't

seem the energy price shock is having a meaningful transmission

into other core categories of inflation," said Weimer.

Traders added to betson 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 1.5% below its own peak.

Robust earnings in several sectors, including tech, have

proven to be the latest tailwind for U.S. stocks after a rocky

start to the second half of 2026. They helped the Nasdaq recover

from a 10% drop from its all-time high late in July.

Among stocks, Dow component Cisco Systems ( CSCO ) dropped

7.4% despite the networking equipment maker forecasting fiscal

2027 revenue above Wall Street expectations.

Tapestry shares plunged 15% despite the

Coach-owner's upbeat annual earnings forecast.

PC makers Dell Technologies ( DELL ) and HP gained

2.5% and 4%, respectively, after earnings from China's Lenovo ( LNVGF )

beat expectations.

Separately, the number of Americans filing claims for

unemployment benefits increased moderately last week, pointing

to a stable jobs market, data showed.

Advancing issues outnumbered decliners by a 2.37-to-1 ratio

on the NYSE and by a 2.16-to-1 ratio on the Nasdaq.

The S&P 500 posted 28 new 52-week highs and no new lows

while the Nasdaq Composite recorded 114 new highs and 52 new

lows.