4th-Straight Record Day for S&P

The S&P 500 rose on Thursday to post a fourth consecutive record close as traders weighed more data showing inflation pressures may be easing.

The Dow Jones Industrials made up some ground Thursday, but still lost 65.11 points to 38,647.10.

The much-broader index edged up 12.71 points to 5,433.74.

The NASDAQ gained 59.12 points to 17,667.56, to still another new high.

Broadcom shares surged 12% after the chipmaker topped fiscal second-quarter expectations and announced a 10-for-1 stock split. On the other hand, Dave & Buster’s Entertainment shares dropped 12% after the company’s first-quarter revenue missed estimates.

Generac sank 7% while Paramount Global dipped 5%. The streaming service dipped after National Amusements killed its discussions with Skydance on a proposed merger. Salesforce and Amazon each hesitated 2%, while Caterpillar, was down 1%, to contribute to the Dow’s decline.

May’s producer price index fell 0.2% from the prior month. Economists polled by Dow Jones expected an increase of 0.1%. That report comes a day after May’s consumer price index rose less than expected last month.

Prices for the 10-year Treasury gained ground, lowering yields to 4.24% from Wednesday’s 4.33%. Treasury prices and yields move in opposite directions.

Oil prices reversed 45 cents to $78.05 U.S. a barrel.