Wall Street rose in early trading on Wednesday, July 15, as cooler US producer inflation and a reported USD 53 billion takeover offer lifted PayPal shares.
At 9:55 a.m. ET, the Dow Jones Industrial Average gained 190.64 points, or 0.36%, to 52,698.91. The S&P 500 added 0.30%, while the Nasdaq Composite rose 0.43%.
The US Bureau of Labour Statistics said its Producer Price Index for final demand fell 0.3% in June 2026 after rising 0.6% in May. Goods prices declined 1.4%, while services prices increased 0.2%.
PayPal Holdings, Inc. (NASDAQ: PYPL) jumped nearly 14% after Reuters reported that Stripe and Advent International had offered USD 60.50 per share for the payments company.
The proposed price represented a 28% premium to PayPal’s previous closing price and valued the company at more than USD 53 billion. PayPal had not publicly accepted the reported proposal, and no transaction had been announced.
Financial stocks gained 0.6% after another round of bank earnings. BlackRock, Inc. (NYSE: BLK) advanced 7.1% after beating profit expectations, while Morgan Stanley (NYSE: MS) rose 0.6% following its quarterly results.
Federal Reserve Chair Kevin Warsh was scheduled to deliver the second day of his semiannual monetary-policy testimony before the US Senate Banking Committee at 10 a.m. ET.
