Stocks trade near intraday highs ahead of closing bell

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Breaking

S&P 500 ends at record as investors pencil in July rate cut

U.S. stocks ended strongly higher Thursday, with the S&P 500 notching a record close, as investors penciled in a July rate cut a day after a Federal Reserve policy meeting reinforced expectations for easier monetary policy. The S&P 500 rose around 28 points, or 0.9%, to end around 2,954, according to preliminary figures, eclipsing its previous record finish of 2,945.83 set earlier this year. The Dow Jones Industrial Average advanced around 249 points, or 0.9%, to end near 26,753, while the Nasdaq Composite rose around 64 points to end near 8,051, a gain of 0.8%. Investors shrugged off escalating fears of military conflict in the Middle East after Iran shot down an unarmed U.S. military drone. Oil futures rallied sharply.

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