Record Highs on Wall Street Amidst Inflation Tension

Wall Street's major indexes soared to record highs on Thursday, bolstered by significant upticks in Tesla and Micron Technology. This surge comes amid mounting expectations that the Federal Reserve will cut interest rates following a rise in U.S. inflation and disappointing job market data.

U.S. consumer prices saw a larger than anticipated increase in August, marking the most significant annual inflation rise in seven months. Chief Credit Officer Atsi Sheth from Moody's Ratings in New York indicated a possible imminent interest rate cut by the Federal Reserve as inflation remains stubbornly high while the job market weakens.

S&P 500 and Nasdaq also hit new peaks, fueled by promising movement in several sectors, notably with advances in semiconductor shares and a 31% jump in Warner Bros Discovery. Despite a pullback in Oracle stocks, positive momentum remained dominant with numerous stocks posting new highs.

(With inputs from agencies.)