LIVE MARKETS-Wall St indexes notch closing records, Dow up 1%

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WALL ST INDEXES NOTCH CLOSING RECORDS, DOW UP 1%

Major U.S. stock indexes registered record closing highs on Thursday, with the Dow ending more than 1% higher, as economic data further cemented the view that the Federal Reserve will cut interest rates next week.

All S&P 500 .SPX sectors ended higher except for energy .SPNY, which was barely lower on the day. Materials .SPLRCM ended 2.1% higher and led gains.

U.S. consumer prices rose more than expected in August, while other datashowed a surge in first-time applications for unemployment aid last week.

The CPI data followed Wednesday's cooler-than-expected producer prices reading.

Futures markets indicate that traders are certain the Fed will cut rates by at least 25 basis points at its policy meeting next week, with about a roughly 9% chance of a 50 bps cut, according to CME Group.

Small-cap stocks outperformed, with the Russell 2000 .RUT index rising 1.8%.

Here is the closing market snapshot:

(Caroline Valetkevitch)

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