U.S. stocks hit a record high on Thursday as investors anticipate potential interest rate cuts. The S&P 500 rose 0.8%, the Dow Jones gained 0.8%, and the Nasdaq climbed 1%. Bond market pressure eased as Treasury yields fell due to worse-than-expected job market reports. While unemployment claims rose, business activity showed growth. The Federal Reserve may cut interest rates to boost the economy. Last month’s dismal job report led to market turmoil and the firing of the agency head responsible for the data. American Eagle Outfitters soared 38% on strong earnings, while Salesforce and C3.ai faced stock declines due to profit concerns.

Hewlett Packard Enterprise and T. Rowe Price performed well, with T. Rowe Price partnering with Goldman Sachs. Figma and C3.ai reported losses, leading to stock drops. The S&P 500 closed at 6,502.08, the Dow Jones at 45,621.29, and the Nasdaq at 21,707.69. Global indexes varied, with gains in Tokyo but drops in Shanghai and Hong Kong. Goldman Sachs corrected the amount it plans to buy of T. Rowe Price stock to $1 billion, not $3.5 billion.

Read more at Yahoo Finance: Wall Street rises to a record with hopes for cuts to interest rates