Market Highlights

Stocks hit all-time highs on hopes the Federal Reserve will cut interest rates to curb a jobs downturn, with traders gearing up for inflation data that will test the market’s conviction. While most shares in the S&P 500 fell, the gauge rose amid gains in all big techs but Apple Inc. - which sank 1.5% after introducing its iPhone 17, including an already expected skinnier model. In late hours, Oracle Corp. surged after posting a huge jump in bookings. A slide in bonds halted a four- day rally. Oil climbed after an Israeli attack in Qatar revived fears of an escalation of the conflict in the Middle East. US stocks are set to notch fresh highs as traders bet that a pair of inflation reports won’t derail expectations for the Federal Reserve to resume cutting interest rates.