Wall Street Hits Record Highs Amid Rate Cut Anticipation

Wall Street's major indexes soared to record-high closes on Thursday, buoyed by significant advances in Tesla and Micron Technology stocks. As U.S. inflation and jobless figures heightened expectations for a Federal Reserve interest rate cut this month, consumer prices in August saw a larger-than-anticipated rise, marking the steepest annual increase in seven months.

Initial jobless claims for the week ending September 6 were recorded at 263,000, nearly a four-year high. Experts, including Atsi Sheth from Moody's Ratings, suggest the Fed is likely to trim interest rates by 25 basis points next week. Meanwhile, futures trading reflects a strong market consensus on impending rate cuts, despite recent weak labor market data.

Among standout performers, Tesla and Micron Technology led gains, while Warner Bros Discovery and Centene also showed positive movements. The Nasdaq and S&P 500 reached all-time peak levels, while the Dow Jones posted a notable rise, further illustrating the dynamic economic landscape.

(With inputs from agencies.)