U.S. stocks climbed yesterday, with the Dow industrials and Standard & Poor's 500 hitting new record highs, as Wall Street ended a winning week. In U.S. economic news, wholesale inflation surged 1 percent in March, largely due to a 6 percent jump in energy costs. In the 12 months through March, the producer price index (PPI) jumped 4.2 percent, the largest annual gain in more than nine years. The U.S. dollar halted several days of declines, rising slightly against a basket of currencies as stronger-than-expected rises in U.S. and Chinese inflation gauges drove up bond yields. Gold fell on the jump in U.S. Treasury yields and a rebound in the dollar, but the metal posted its first weekly gain in three weeks. Futures dropped 0.8 percent to $1,744.80 an ounce on the New York Mercantile Exchange. Oil fell on rising supplies from major producers and concerns about the pandemic's impact on fuel demand. West Texas Intermediate (WTI) crude futures dropped 28 cents, or 0.5 percent, to $59.32 a barrel. The Dow Jones industrial average rose 297.03, or 0.9 percent, to 33,800.60. Twenty-two of the index's 30 components advanced, with Honeywell, UnitedHealth, and Salesforce.com each surging more than 3 percent. The broader Standard & Poor's 500 index rose 31.63, or 0.8 percent, to 4,128.80. Cruise-ship operators continued their recent gains. The technology-heavy Nasdaq composite index rose 70.88, or 0.5 percent, to 13,900.18. Amazon surged 2.2 percent, Apple gained 2 percent, Google-parent Alphabet advanced 0.9 percent, and Netflix added 0.1 percent. Tesla dropped 1 percent, and Facebook declined 0.2 percent.