NEW YORK (AP) — Wall Street is heading for more records following surprisingly encouraging reports on inflation and on profits for companies benefiting from the artificial-intelligence boom. The S&P 500 rose 0.5% in early trading Wednesday and was on track to set an all-time high for a second straight day. The Dow Jones Industrial Average slipped 75 points, and the Nasdaq composite was up 0.5%. Tech giant Oracle rose sharply after saying AI-related demand is set to send its revenue soaring. The yield on the 10-year Treasury eased to 4.05% after an encouraging inflation report on wholesale prices bolstered expectations for cuts to interest rates.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

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