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Live news: Argentina’s central bank lowers interest rates as inflation cools

The Nasdaq Composite closed at a record high, helped by an afternoon rally in Big Tech groups.

The tech-heavy index added 0.8 per cent on Tuesday, surpassing its previous peak from a month ago. Every “Magnificent Seven” stock rose, led by Tesla’s 3.3 per cent gain.

The S&P 500 rose 0.5 per cent to hit its highest closing level since the end of March.

The advance comes ahead of a US inflation report on Wednesday morning. Economists expect a slight decline in price growth in April.

“If we see a slowdown in US growth and inflation, Fed easing expectations could be pulled forward,” said Karl Schamotta, chief market strategist at Corpay.

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