Wall Street ends up, extends recent gains on cooling US inflation

US stocks rose on Thursday, helped by a record closing high in an index of technology-focused shares and news of falling producer inflation. The Nasdaq rose more than 1% for a second consecutive day. Annual producer inflation in America increased at its smallest rate for almost three years, providing evidence of easing inflation pressures. The consumer price index released on Wednesday also showed a decrease in annual US consumer prices, which is likely to back forecasts that the Federal Reserve will stop hiking rates. Market focus is shifting to the second-quarter US earnings season.

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