The Globe and Mail reports in its Friday edition that the S&P 500 and Nasdaq closed at record highs Thursday, buoyed by tech stocks linked to artificial intelligence, while inflation data and comments from Federal Reserve officials helped shape expectations for the timing of the central bank's interest rate cuts. A Reuters dispatch to The Globe says that Canada's main stock index also rallied, as investors cheered results from Canadian Natural Resources and the major banks as well as domestic data showing stronger-than-expected economic growth. Heavyweight chipmaker Nvidia advanced 2.08 per cent as one of the biggest boosts to the benchmark S&P Index and Nasdaq while smaller rival Advanced Micro surged 9.06 per cent. Dell Technologies, which sells AI-optimized servers made with Nvidia's high-end processors, shot up 15 per cent in postmarket trading after reporting an earnings beat. Traders added to bets the Fed will cut rates in June, after a Commerce Department report showed U.S. prices picked up in January in line with expectations amid strong gains in the costs of services. The S&P/TSX Composite Index ended at 21,363.61, up 119.84. For the month, it was up 1.6 per cent, its fourth straight monthly gain.