Wall Street ticks closer to its record after Oracle rallies

New York (AP) – American stock indicators rose to the top of Thursday after updating another fan of inflation throughout the country.

S&P 500 increased by 0.4 % to decline with 1.6 % of its record. Dow Jones Industrial MALED added 101 points, or 0.2 %, and gained the Nasdaq compound 0.2 %.

Oracle pushed the top on the market after jumping 13.3 %. The technology giant achieved stronger profits and revenues for the last quarter of what analysts expected, and CEO Safra Catz said he expected revenue growth “will be significantly higher” in his next financial year.

This helped compensate for a 4.8 % loss for Boeing after Air India has passed, a flight broke out in London shortly after taking off from Ahmedabad airport on Thursday with 242 passengers and crew on board. Boeing 787 Dreamliner crashed into a residential area near the airport five minutes after take off. The cause of the accident was not immediately known.

The stocks widely received some help from reducing the treasury yield in the bond market after the last inflation update. He said on Thursday, he said on Thursday, the sentence was not bad last month as economists expected, and a report on Wednesday said that there is something similar to inflation that consumers feel in the United States.

Wall Street took this as a sign that the federal reserve will have more space to reduce interest rates later this year to give the economy a batch.

The federal reserve was reluctant to drop in interest rates, and it was offered this year after its reducing it at the end of last year, as it is awaiting knowing how much president Donald Trump’s tariff will harm the economy and increase inflation. While low prices can go out of the economy by encouraging companies and families to borrow, they can also accelerate inflation.

The return on the cabinet decreased for 10 years to 4.35 % from 4.41 % late on Wednesday and about 4.80 % in early this year.

Besides inflation data, a separate report on the unemployed demands also helped in balance the treasury. She said that more American workers have applied for unemployment benefits last week than economists, and the total number remained at the highest level in eight months. This can be an indication of the height of workers throughout the country.

“We believe that if this was not due to the uncertainty caused by the definitions, the joint information coming from inflation and the labor market had forced the federal reserves to resume the policy reduction now,” according to Terry Wizmann, a strategy in Macquari.

The next Federal Reserve meeting is scheduled for interest rates next week, but almost unanimous expectations in Wall Street are that they will stand again. Traders are likely to start cutting in September, according to the CME group data.