S&P 500, Nasdaq Rise to Record Highs on September Rate Cut Hopes

The benchmark S&P 500 and the Nasdaq hit record highs on Wednesday, underpinned by gains in megacap companies as investors were increasingly confident that the Federal Reserve could restart its monetary policy easing cycle next month.

Signs that U.S. tariffs on imports have not fully filtered into headline consumer prices came as a relief for investors this week as they scour for insights on the impact trade uncertainty has had on the economy.

Despite data showing underlying price pressures were on the rise, markets also factored...

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