The Dow Jones Industrials gained 64.75 points to 39,496.26.
The S&P 500 picked up 11.18 points to 5,232.60.
The NASDAQ strengthened 69.74 points to 16,457.98.
Shares of GameStop soared 63%, extending their rally from Monday, when they gained 74%.
The producer price index reading for April came in above estimates, putting a damper on expectations that the Federal Reserve would begin cutting rates later this year as inflation weakens. The PPI gained 0.5% from April, higher than the 0.3% that economists polled by Dow Jones had anticipated.
Prices for the 10-year Treasury gained a bit of ground, pushing yields down to 4.46% from Monday’s 4.49%. Treasury prices and yields move in opposite directions.
Oil prices sank 60 cents to $78.52 U.S. a barrel.
Gold prices soared $12.70 to $2,355.70.