![](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fd1e00ek4ebabms.cloudfront.net%252Fproduction%252Fe00b5994-7f5c-42be-9829-b2a5ab9708fc.jpg%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next-opengraph&fit=scale-down&width=900)
US stocks climbed to record highs for the fourth straight session after data showed inflation fell to 3.3 per cent in May, raising expectations of early interest rate cuts.
The S&P 500 closed 0.2 per cent higher on Thursday, despite 60 per cent of stocks in the benchmark index declining on the day. The tech-focused Nasdaq Composite rose 0.4 per cent, as four Magnificent Seven stocks rose.
The S&P 500 most recently had a four-day winning streak earlier this month, but it was the Nadsaq’s first such streak since late March.
The steady gains in US equities pushed Wall Street’s Vix index — the so-called “fear gauge” — to its lowest level in three weeks.
Small-cap stocks performed worse, with the Russell 2000 falling 0.9 per cent.
Treasuries prices rose, pushing down yields. The yield on the two-year note was down 0.05 percentage points to 4.70 per cent, while the yield on the 10-year note fell 0.05 percentage points to 4.25 per cent.
Read More: World News | Entertainment News | Celeb News
FT