Wall Street Today | S&P, Nasdaq Rise as Apple, Nvidia Rally

Stocks ended mostly higher Thursday as a rebound in $Apple(AAPL.US)$, $NVIDIA(NVDA.US)$ and some other tech stocks offset a lack of enthusiasm that Wall Street had shown earlier in the session toward softer-than-expected wholesale-inflation data.

The $Nasdaq Composite Index(.IXIC.US)$ led the way higher, gaining 271.84 points (1.7%) to a 16,442.2 close. The $S&P 500 Index(.SPX.US)$ likewise gained 38.42 ticks (0.7%) to 5,199.06, but the $Dow Jones Industrial Average(.DJI.US)$ shed 2.43 points (0.01%) to 38,459.08.

$Apple(AAPL.US)$ shares advanced after a Bloomberg report that the company is seeking to give its sluggish computer sales a boost from in-house processors designed to highlight artificial intelligence. Apple, which prepares to overhaul its entire Mac line, is nearing the production of the next generation M4 processor, the report said, citing people with knowledge of the matter.

$Morgan Stanley(MS.US)$ shares tanked after the Wall Street Journal reported the Securities and Exchange Commission, The Bureau of Treasury, and the Office of the Comptroller of the Currency are investigating how bank vet wealthy clients.

$Rivian Automotive(RIVN.US)$ shares tumbled 6.8% amid a price cut by $Ford Motor(F.US)$ for its all-electric F-150 Lighting pickup trucks by $5,500. Ford's all-electric F-150 Lightning competes with Rivian's R1T, even though an F-150 is a larger vehicle, Barron's reported.