U.S. stocks closed at record highs Thursday as July producer prices were flat on the month and annual Producer Price Index inflation slowed to 4.7% from 5.5%, reinforcing the previous day's softer CPI reading and driving September Fed-hike odds toward 35% from about 55% a week earlier. The S&P 500 rose 0.65% to 7,798.99, the Nasdaq gained 0.81% to 26,803.03 and the Dow added 0.13% to 53,839.99, leaving the S&P 500 and Nasdaq up 13.9% and 15.3% for the year while the Russell 2000 led with a 23% gain. Friday trading turned more cautious, with U.S. futures near flat and Asian markets mixed despite gains in South Korea's Kospi and Japan's Nikkei. SanDisk, Micron, Workday and Netflix advanced, Cisco and Tapestry fell, oil held near $81 for WTI and $87 for Brent, USD/JPY stayed close to 160, and Bitcoin edged higher as the SEC canceled a crypto-rule vote and Congress delayed broader legislation.