US stocks set a record for four consecutive sessions thanks to weaker inflation and firm crude oil prices.

The US stock market rallied in the trading session on Thursday (June 13), with the S&P 500 index setting a record for the fourth consecutive session, in the context of investors having more statistical data showing that Inflationary pressures may be decreasing. Expectations that the US Federal Reserve (Fed) is about to cut interest rates have helped crude oil prices maintain their recovery this week.

“At this point, the possibility of the Fed increasing interest rates can be ruled out. This will support stock valuation. Our main scenario now is that the stock market will maintain a slow upward trend," portfolio manager Zachary Hill of Horizon Investments commented to CNBC news agency.

Despite the Fed's tough statement on interest rates, market bets on the possibility of the Fed starting to cut interest rates in September are increasing. According to data from CME's FedWatch Tool, the market is betting on a 60.5% chance of the Fed lowering interest rates in September.

“The Fed is tough, but they will act based on economic data. Today's PPI data showed improvement, and the market believes that the Fed may change its toughness soon if inflation data continues to improve," Carson chief strategist Ryan Detrick said. Group commented to Reuters news agency.

“After the recent strong increase, the market is slowing down. We call this the calm after the storm, the market is accumulating after the big increases recorded in the first half of June," Mr. Detrick said.