US: S&P 500, Nasdaq hit intraday record highs after inflation data

Wall Street’s main indexes opened higher on Wednesday (May 15), with the Nasdaq and the S&P 500 hitting intraday record highs after consumer prices increased less than expected in April, supporting market bets for a September interest rate cut.

The Dow Jones Industrial Average rose 56.99 points, or 0.14 per cent, at the open to 39,615.10.

The S&P 500 opened higher by 16.58 points, or 0.32 per cent, at 5,263.26, while the Nasdaq Composite gained 89.96 points, or 0.54 per cent, to 16,601.14 at the opening bell. REUTERS