The S&P 500 climbed 1.0%, the Dow gained 0.6%, and the Nasdaq rose 1.2% yesterday. The biggest driver was a surprisingly cool Producer Price Index (PPI) report for March, which came in well below expectations and eased fears about rising inflation. Today, watch for earnings reactions from Wells Fargo (WFC), BlackRock (BLK), and Johnson & Johnson (JNJ) — all three reported before the open this morning.

March’s PPI — a measure of what producers pay for goods before they reach consumers — rose just 0.5%, significantly below the 1.1% analysts expected. That’s what economists call a “disinflationary surprise,” meaning prices aren’t accelerating the way people feared. When inflation cools, it takes pressure off the Federal Reserve (the Fed, America’s central bank) to keep interest rates high, which tends to help stocks — especially rate-sensitive sectors like technology.

Meanwhile, a Middle East ceasefire has dramatically shifted market mood. Money is flowing back into stocks from safer assets like bonds, and semiconductor (computer chip) stocks posted their best eight-day rally since 2002 as AI demand remains insatiable. Oil staying above $100 per barrel keeps gas prices elevated — the national average is about $4.12 per gallon — but so far, consumers appear resilient, sitting on a record $22.7 trillion in household cash. That cash cushion matters for your portfolio because consumer spending drives roughly two-thirds of the U.S. economy.

PPI (Producer Price Index): A measure of the average prices that producers receive for their goods and services — essentially an early signal of where consumer prices might head next. Why you care today: March PPI came in at half of what analysts expected, suggesting inflation may be cooling and making it less likely the Fed raises rates further.

Bloom Energy (BE) — “The Power Play”
Bloom Energy surged 13.18% in premarket trading after expanding its partnership with Oracle (ORCL) to deploy up to 2.8 gigawatts of fuel cells for AI and cloud data centers. Oracle already signed a contract for 1.2 gigawatts, signaling serious growth potential.

Ford (F) — “The Comeback Kid”
UBS upgraded Ford from Neutral to Buy with a $15 price target, citing a clear path to earning over $2 per share by 2027. The analyst sees Ford benefiting from its focus on high-margin products and a practical approach to electric vehicles.

Tesla (TSLA) — “The Caution Sign”
UBS upgraded Tesla from Sell to Neutral — not a Buy — with a $352 price target, noting the stock is driven more by sentiment and narrative than actual business fundamentals. Despite long-term AI potential, concerns remain about weakening EV demand and high spending.