U.S. stocks set another record closing on Thursday, with the Dow Jones (DJI) reaching the 46,000 level for the first time, after the consumer inflation report came higher on a monthly basis in August,

Stocks hit record highs Thursday after August inflation data mostly matched expectations, reaffirming investors’ hopes that the Federal Reserve will cut interest rates in September.

Inflation and jobless claims rise as investors pencil in Fed rate cuts.

Dow Jones hits record 46,000 amid tech and AI gains. What does this mean for investors for the rest of this year? Read the full analysis here.

The Dow Jones Industrial Average finished 274 points, or 0.6%, lower. The S&P 500 fell 0.1%, snapping its four-day winning streak. The tech-heavy Nasdaq Composite marked a new record, finishing up 0.4%, and marking a five-day winning streak—its longest since mid-July.

On Thursday, the consumer price index is due, and Wall Street sees a 0.3% gain, accelerating from the 0.2% pace a month earlier.

The Dow Jones Industrial Average (DJI) is leading U.S. equities higher on Thursday, setting a fresh intraday record as the blue-chip index climbed above the 46,000 mark.

The Dow Jones Industrial Average is a stock index comprised of 30 “blue-chip” US stocks. It is meant to be a way to measure the strength or weakness of the entire US stock market. The Dow began in 1896 with 12 industrial stocks.