Wall Street notches record closing highs

The Dow rose 472.51 points, or 1.01%, to 47,207.12, the S&P 500 gained 53.25 points, or 0.79%, to 6,791.69 and the Nasdaq gained 263.07 points, or 1.15%, to 23,204.87.

NEW YORK: Cooler-than-expected inflation data and upbeat corporate earnings lifted all three major US stock indices to all-time closing highs on Friday, setting the stage for next week's earnings reports and an expected interest rate cut by the Federal Reserve.

The S&P 500 and the Nasdaq recorded their largest weekly percentage gains since August, while the blue-chip Dow logged its biggest Friday-to-Friday jump since June.