Wall Street rose to records after an update said U.S. households are feeling a bit less pain from inflation than feared.

The S&P 500 climbed 0.8% Friday and topped its prior all-time high set earlier this month. The Dow Jones Industrial Average jumped 1%, and the Nasdaq composite rallied 1.1%. Both also set records.

The inflation data could clear the way for the Federal Reserve to keep cutting interest rates in hopes of helping the slowing job market. A strong earnings report from Ford Motor and continued gains for AI stars also helped to drive stocks higher.

On Friday:

The S&P 500 rose 53.25 points, or 0.8%, to 6,791.69.

The Dow Jones Industrial Average rose 472.51 points, or 1%, to 47,207.12.

The Nasdaq composite rose 263.07 points, or 1.1%, to 23,204.87.

The Russell 2000 index of

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