Updates with afternoon trading

By Noel Randewich and Sukriti Gupta

Feb 13 (Reuters) - The S&P 500 advanced on Thursday, with gains in Nvidia, Apple and Tesla, after the latest producer prices data fueled expectations of subdued inflation.

U.S. producer prices increased in January, but key elements in the core Personal Consumption Expenditures (PCE) index, a measure closely tracked by the U.S. Federal Reserve, were benign or lower.

Components, including physician's office and hospital prices, were either broadly unchanged or rose modestly. Healthcare, with a nearly 20% weighting in the core PCE, declined 0.06%.

Yields on the 10-year U.S. Treasury bond moved sharply lower following the report, suggesting investors were growing more confident about inflation cooling.

Tesla TSLA.O climbed 4%, Nvidia NVDA.O added about 3% and Apple AAPL.O rose 2%.

"Equity investors are taking cues from the bond market," said Jack Ablin, chief investment officer at Cresset Capital. "Investors were also preparing for kind of an alarmingly high inflation number, based on tariffs."

Interest rate futures suggest traders expect a solitary 25-basis-point rate cut from the central bank this year, according to the CME's FedWatch Tool.

The number of Americans filing new applications for unemployment benefits decreased last week, another report showed.

Also on Thursday, U.S. President Donald Trump unveiled a roadmap for charging reciprocal tariffs on every country that charges duties on U.S. imports, his latest trade salvo directed at American friends and foes that the White House claims will strengthen economic and national security.

The S&P 500 was up 0.61% at 6,088.82 points.

The Nasdaq gained 0.92% to 19,830.91 points, while the Dow Jones Industrial Average was up 0.47% at 44,576.94 points.

Ten of the 11 S&P 500 sector indexes rose, led by materials .SPLRCM, up 1.29%, followed by a 1.15% gain in information technology .SPLRCT.

Chevron CVX.N shares rose 0.6% after the oil heavyweight said it will lay off up to 20% of its global workforce by the end of 2026.

Trade Desk TTD.O slumped 33% after the ad tech firm forecast first-quarter revenue below analysts' estimates.

MGM Resorts International MGM.N jumped 17% after the casino operator beat fourth-quarter profit and revenue estimates.

Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 2.1-to-one ratio.

The S&P 500 posted 30 new highs and 10 new lows; the Nasdaq recorded 106 new highs and 83 new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Pooja Desai, Maju Samuel and Aurora Ellis)

((noel.randewich@tr.com))