The S&P 500 was lifted 0.8%, looking at a record-high close. The Nasdaq composite gained 0.9%, after hitting a new intraday on the stock market today. Small caps on the Russell 2000 fared better than the major indexes and powered up 1.6%.

US stocks rose amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.

Follow along to markets on a day when the latest consumer price index will be released.