Wall Street today: S&P 500, Nasdaq at fresh record highs as inflation data boosts rate cut hopes

On Wall Street, the S&P 500 and Nasdaq hit fresh record highs on Thursday, after softer-than-expected inflation data bolstered hopes for Federal Reserve rate cuts.

At the opening bell, the S&P 500 was higher by 1.30 points, or 0.02%, at 5,635.21, while the Nasdaq Composite gained 11.80 points, or 0.06%, to 18,659.25.

The Dow Jones Industrial Average fell 26.18 points, or 0.07%, to 39,695.18.