Global stocks advanced on Tuesday as Treasury yields rose following data indicating that U.S.

inflation remained steady in February.

This indicates that the Federal Reserve could keep interest rates higher for longer than currently anticipated.

MSCI’s global stock gauge rose 6.20 points, or 0.81%, to 774.97.

In the U.S., the S&P 500 registered a record close as Oracle’s shares surged and consumer price data did not dampen investor hopes of interest rate cuts in the coming months.

The S&P 500 gained 57.12 points, or 1.12%, to finish at 5,175.06 points.

Similarly, the Nasdaq Composite gained 244.80 points, or 1.53%, ending at 16,264.08.

The Dow Jones Industrial Average rose 230.43 points, or 0.59%, to 39,000.09.

In Europe, shares closed at a record high, led by automakers and banks, as traders anticipated an interest rate cut by the Federal Reserve following the release of U.S.

consumer price data.

The pan-European STOXX 600 closed up 1%.