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Trade Desk ( TTD ) falls on downbeat Q1 revenue forecast

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MGM Resorts ( MGM ) up after Q4 results beat estimates

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Indexes up: Dow 0.31%, S&P 500 0.56%, Nasdaq 0.91%

(Updates with afternoon trading levels)

By Shashwat Chauhan and Sukriti Gupta

Feb 13 (Reuters) - Wall Street's main indexes advanced

on Thursday after the latest producer prices data led to a

lowering in inflation forecasts, while the prospect of

Russia-Ukraine peace talks prompted some risk-taking among

investors.

U.S. producer prices

increased solidly

in January, offering more evidence that inflation was

picking up again and strengthening markets' view that the

Federal Reserve would not be cutting interest rates before the

second half of 2025.

However, economists estimated that the core PCE price

index rose 0.3% in January after adding 0.2% in December, much

lower than the 0.5% gain some had forecast following the CPI

data.

"The PPI report was hot, but probably lifted by

temporary factors and residual seasonality," said Bill Adams,

chief economist for Comerica Bank.

"It also saw flat or negative readings on most types of

healthcare services, which points to a cooler core PCE inflation

report for January than the month's core CPI."

Portfolio management fees, healthcare, and airline fares

are among components that go into the calculation of the core

Personal Consumption Expenditures Price Index, which will be

released later this month.

Traders currently price in a solitary 25-basis-point

rate cut from the central bank this year, although the Fed is

not expected to make a move until September, according to the

CME's FedWatch Tool.

A January consumer price index reading on Wednesday

showed the highest increase in prices in nearly a

year-and-a-half.

Fed Chair Jerome Powell said on Wednesday, his second day of

testimony to Congress, that the CPI data was further evidence

the central bank's battle with rising prices was not finished.

The number of Americans filing new applications for

unemployment benefits decreased last week, another report

showed.

Meanwhile, U.S. President Donald Trump said Russian

President Vladimir Putin and Ukrainian President Volodymyr

Zelenskiy had expressed a desire for peace in separate phone

conversations with him on Wednesday.

He also posted on his social media platform that he would

detail the latest in a barrage of tariffs on imports to the U.S.

that he has unveiled since taking office, in a press conference

at 1 p.m. (1800 GMT).

At 11:35 a.m. ET, the Dow Jones Industrial Average

rose 136.52 points, or 0.31%, to 44,505.08, the S&P 500

gained 33.83 points, or 0.56%, to 6,085.80, and the Nasdaq

Composite gained 178.48 points, or 0.91%, to 19,828.43.

Ten of the 11 S&P 500 sectors traded higher, with

information technology and materials being

the top gainers.

Most megacap and growth stocks swung higher, with Tesla's

4.8% jump outperforming the rest.

Trade Desk ( TTD ) dropped 31.7% after the ad tech firm

forecast first-quarter revenue below analysts' estimates.

MGM Resorts International ( MGM ) jumped 15.6% after the

casino operator beat fourth-quarter profit and revenue

estimates.

Advancing issues outnumbered decliners by a 2.46-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 nine new

lows, while the Nasdaq Composite recorded 94 new highs and 66

new lows.