US Stocks Soar to Record High as Inflation Slows Down

The US stock market reached an all-time high on Thursday after a report showed that inflation is slowing down. The S&P 500 rose 0.7% and surpassed its previous record set last week, while the Dow Jones Industrial Average added 69 points, or 0.1%, and the Nasdaq composite gained 0.8%.

The decline in oil prices also contributed to the market's gain, with a barrel of Brent crude falling 2.1% to $87.07. This easing of inflationary pressures has traders betting that the Federal Reserve may not raise interest rates at its next meeting in September.

However, analysts pointed out that investors may be worried about profit margins for certain companies, such as Cisco Systems, which fell 8.4% despite reporting stronger profits and revenue than expected.