US: S&P 500, Nasdaq hit record highs on boosted rate-cut bets

The S&P 500 and the Nasdaq hit intraday record highs at the open on Wednesday (Sep 10), after cooler-than-expected producer inflation data boosted bets on interest-rate cuts by the Federal Reserve, while a surge in cloud computing firm Oracle added to gains.

The Dow Jones Industrial Average rose 20.2 points, or 0.04 per cent, at the open to 45,731.5.

The S&P 500 rose 37.7 points, or 0.58 per cent, at the open to 6,550.29​, while the Nasdaq Composite rose 101.1 points, or 0.46 per cent, to 21,980.601 at the opening bell. REUTERS