Most U.S. stocks fell, but hopes for coming cuts to interest rates and Wall Street’s continued frenzy around artificial-intelligence technology sent indexes to more record highs.

The S&P 500 rose 0.2% Thursday after a day of drifting between shallow gains and losses, beating the all-time high it set the day before. The Nasdaq composite climbed 0.3%, also setting another record. The Dow Jones Industrial Average fell 0.2%.

Technology company Broadcom soared 12.3%. Treasury yields eased again in the bond market as conviction built that inflation is slowing enough to get the Federal Reserve to cut interest rates later this year.

On Thursday:

The S&P 500 rose 12.71 points, or 0.2%, to 5,433.74.

The Dow Jones Industrial Average fell 65.11 points, or 0.2%, to 38,647.10.

The Nasdaq composite rose 59.12 points, or 0.3%, to 17,667.56.

The Russell 2000 index of smaller companies fell 18.19 points, or 0.9%, to 2,038.91.

For the week:

The S&P 500 is up 86.75 points, or 1.6%.

The Dow is down 151.89 points, or 0.4%.

The Nasdaq is up 534.43 points, or 3.1%.

The Russell 2000 is up 12.36 points, or 0.6%.

For the year:

The S&P 500 is up 663.91 points, or 13.9%.

The Dow is up 957.56 points, or 2.5%.

The Nasdaq is up 2,656.21 points, or 17.7%.

The Russell 2000 is up 11.84 points, or 0.6%.