04:07 PM EDT, 09/12/2024 (MT Newswires) -- US benchmark equity indexes ended higher Thursday as markets assessed the latest economic data, including the official producer prices report for August.

* Producer prices in the US grew more than expected last month as wholesale services costs rebounded, the Bureau of Labor Statistics reported.

On Wednesday, the BLS data showed that US consumer inflation rose as expected in August on a sequential basis, while the annual metric logged the smallest increase since February 2021.

* The US Treasury reported a $380.08 billion budget gap in August, a larger deficit than the $292.5 billion gap expected. Treasury noted that transfer payments for September shifted into August due to Sept. 1 falling on a weekend.

* October West Texas Intermediate crude oil closed up $1.66 to settle at $68.97 per barrel, while November Brent crude, the global benchmark, was last seen up $1.49 at $72.10 boosted by the supply cuts caused by Hurricane Francine's path through the Gulf of Mexico, while the International Energy Agency warned demand growth continues to wane as China's economy slows.

* Warner Bros. Discovery ( WBD ) signed a multiyear distribution agreement with Charter Communications ( CHTR ) that integrates linear video and streaming services. Warner Bros. shares were up 10% while Charter rose 3.6%.

* Moderna ( MRNA ) said it plans to cut back on its research and development spending as the company looks to save costs and prioritize the launch of new products already in the pipeline. The drugmaker's shares plunged 12%.