The S&P 500 slipped from record highs on Friday but remained on track to end the week near all-time peaks after cooling inflation data and gains in AI-related stocks. The benchmark index closed at a record for the 27th time this year on Thursday, and opened higher before turning slightly lower. Two inflation readings reduced pressure on the Federal Reserve to raise rates in September, while data-storage and memory stocks Sandisk, Seagate Technology, and Micron flew higher. Reddit shares jumped on news the social-media company is joining the S&P 500. Oil prices were little changed after climbing earlier on reports that at least one tanker came under attack trying to leave the Persian Gulf, and Commerce Department data showed U.S. retailers logged weaker sales in July.
