Key Takeaways

U.S. equities rose at midday as details contained in a report on wholesale inflation suggested an easing of inflation. The Dow Jones Industrial Average , S&P 500 , and Nasdaq all gained.

MGM Resorts International ( MGM ) was the best-performing stock in the S&P 500 when the hotel and casino operator's results exceeded expectations on higher revenue from its Chinese operations.

Shares of Robinhood Markets ( HOOD ) jumped to a record high as soaring trading in cryptocurrency helped the online trading site significantly beat profit and sales estimates.

Dutch Bros ( BROS ) shares also hit an all-time high after the drive-through coffee chain operator reported better-than-anticipated results and outlook on the addition of new locations and solid same-store sales .

West Pharmaceutical Services ( WST ) shares plunged as the maker of injectable drug devices warned the strong dollar and customer inventory clearing will negatively impact future performance.

Shares of Deere ( DE ) declined when the manufacturer of tractors, combines, and lawn mowers missed revenue estimates and said full-year sales of its big farm equipment would be worse than previously anticipated.

Dell Technologies ( DELL ) shares fell as Morgan Stanley cut the price target to $128 from $154, citing concerns about the computer firm's near-term earnings.

Oil futures dropped. Gold prices advanced. The yield on the 10-year Treasury note slid. The U.S. dollar was down versus the euro, pound, and yen. Most major cryptocurrencies traded lower.

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