Major indexes inched lower Thursday, putting the brakes on a rally that had sent stocks to record highs in recent days, as investors digested closely watched economic data and awaited a flurry of corporate earnings reports.

The S&P 500 and Dow Jones Industrial Average both hit record closing highs, rising 0.7% and 1%, respectively, while the Nasdaq Composite gained 0.6%. Major indexes have rebounded from a steep selloff

U.S. stocks settled higher, with the Dow Jones Industrial Average and the S&P 500 closing at records as attention turns to the start of earnings season.

Wall Street Stocks Hit Record Highs Amid Fed Minutes and Earnings Anticipation Wall Street stocks surged on Wednesday, with the SP 500 and Dow Jones Industrial Average both achieving record closing highs.