The S&P 500 and Nasdaq closed at new record highs for the fourth consecutive session on Thursday, gaining 0.2% and 0.3% respectively. This was driven by the rise in technology stocks, while the Dow Jones index lost 65 points. Investors compared cooler-than-expected inflation data with the Federal Reserve's moderate rate cut expectations. The latest PPI report indicated continued easing of inflationary pressures, reviving the possibility of multiple rate cuts this year. Broadcom shares surged 12.8% after raising revenue forecasts for AI chip sales and announcing a stock split, while Nvidia shares rose 3.5%. Tesla shares gained 2.7% after shareholders approved Elon Musk's $56 billion pay package and news of plans to relocate the company to Texas. Conversely, Virgin Galactic shares fell 14.2% following news of a reverse stock split.