The Globe and Mail reports in its Friday edition that Nasdaq ended lower on Thursday, hit by losses in Nvidia, Apple and Tesla as investors rotated into smaller companies after softer-than-expected inflation data fed bets the Federal Reserve will cut interest rates in September. A Reuters dispatch to The Globe says that rotation in markets was good news for Canadian stocks, as the S&P/TSX Composite Index closed at a record high of 22,544.13 after adding 193.90 points. Its previous all-time high was in May. Like the Nasdaq, the S&P 500 lost ground after the Labor Department report showed U.S. consumer prices fell unexpectedly in June and the annual increase was the smallest in a year, drawing the Fed closer to a September rate cut. Interest-rates futures suggest traders see a more than 90-per-cent chance the Fed will cut rates by its September meeting, up from 74 per cent on Wednesday. Tesla tumbled 8.4 per cent, its biggest one-day percentage drop since January, after reports the company is delaying the launch of robotaxi by two months to October. In Toronto, real estate stocks led sector gains with a 2.6-per-cent jump, hitting the highest since April. Energy stocks jumped 2.56 per cent, in tandem with oil prices.