U.S. stock indexes extended the gains in the final hour of trade Thursday as a moderation in wholesale inflation and a jump in weekly jobless claims support the idea that the economy is gradually weakening, while the Federal Reserve may be approaching the end of its tightening cycle. The S&P 500
SPX,
-0.21%
advanced 1.4% and headed for its best close since February 7, according to Dow Jones Market Data. The Dow Jones Industrial Average
DJIA,
-0.42%
rose nearly 400 points, or 1.2%, to 34,046. The Nasdaq Composite
COMP,
-0.35%
jumped 2.1%, led by gains in the communication services and consumer discretionary sectors, which rallied 2.3% each. Data showed U.S. wholesale prices sank 0.5% in March, the biggest decline in almost three years. On a year-to-year basis, the headline producer price index fell to 3.6% in March from 4.5% in February.
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