Nasdaq, S&P 500 score record close for second consecutive session

US stock indices turned higher during trading on Wednesday, as investors approached the end of trading in the second quarter of the year, awaiting the release of the Federal Reserve's preferred inflation gauge to anticipate the future interest path.

Dow Jones Industrial Average stabilized to close at 39,127 points, overcoming the session’s losses after approaching 38,908.

The S&P 500 index gained 8 points, or 0.15%, finishing at 5,477. The Nasdaq Composite Index advanced 87 points, or 0.5%, to end at 17,805. The two benchmarks extended their gains for the second consecutive session.

As for the European indices, STOXX Europe 600 retreated 0.55%, to 514.8 points, the lowest since June 19 (514.1 points).

FTSE 100 shed 0.25% to 8,225 points, while DAX 40 fell 0.1% to 18,155 points, CAC 40 dipped 0.7% to 7,609 points.

The Nikkei 225 gained 494 points, or 1.25%, to close at 39,667 points, while TOPIX inched up 0.55% to 2,802 points.

In the oil market, futures contracts for Brent crude for August delivery rose by 0.3%, or 24 cents, to $85.25 per barrel.

Meanwhile, prices of West Texas Intermediate (WTI) crude oil for August delivery inched up 0.1%, or 7 cents, to $80.90 per barrel.

Gold futures prices for August delivery dropped by 0.75%, or $17.6, to $2,313.2 per ounce.