Nasdaq closes higher as Apple, soft PPI lift stocks

US stocks closed higher as softer-than-expected June producer inflation reinforced bets that the Federal Reserve will stay on hold and potentially ease policy later in the year. The Nasdaq rose 0.6%, the S&P 500 gained 0.4%, and the Dow added 0.3%. Apple was a major driver, jumping 4% to a record close of $327.50 after reports it gained approval to roll out generative AI features in China. Broader risk appetite was also supported by strong bank/asset-manager earnings, with investors awaiting more results from key companies including TSMC, UnitedHealth, GE Aerospace and Abbott. The inflation data and earnings momentum together improved sentiment toward large-cap tech and growth stocks.