Wall Street rallies as a cut to interest rates next week looks more certain

NEW YORK (AP) — Wall Street rolled to more records after mixed data on the economy cemented expectations for coming cuts to interest rates. The S&P 500 rose 0.8% Thursday and set an all-time high for a third straight day. The Dow Jones Industrial Average rallied 1.4%, and the Nasdaq composite climbed 0.7%. Treasury yields eased in the bond market following the reports on joblessness and inflation, as traders bet the Federal Reserve will have to cut interest rates for the first time this year at its meeting next week. European stocks rose after the European Central Bank held its main interest rate steady.

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