Major Wall Street stock indices shrugged off a surprisingly big jump in US inflation on Wednesday and pushed to fresh records on artificial intelligence bullishness.

While the Dow edged lower, both the S&P 500 and Nasdaq powered to fresh records.

The Nasdaq led major US indices, piling on 1.2 percent behind big gains in most tech giants, including Google parent Alphabet and Nvidia.

The strong session on Wall Street came on the heels of a benign day in Europe and Asia, where leading bourses also advanced.

That came despite a US wholesale inflation report that greatly exceeded expectations, following Tuesday's rise in the consumer price index.

Wholesale prices rose six percent for the 12 months ending in April, according to US Department of Labor data.

Month-on-month increases greatly exceeded expectations and were at their highest level since March 2022.

The S&P 500 rose 0.6 percent, to 7,444, the Nasdaq rose 1.2 percent, to 26,402, while the Dow fell 0.1 percent, to 49,693. (AFP)



Edited by Robert Kemp