NEW YORK (AP) — Stocks finished higher on Wall Street Tuesday, nudging the S&P 500 closer to the record high it reached last week. The benchmark index added 0.5%.

The Nasdaq did a bit better, climbing 0.8%, with an assist from gains in several big technology stocks.

Markets were relatively calm through the Congressional testimony of Federal Reserve Chair Jerome Powell, who said he expects recent increases in inflation to subside soon.

Consumer prices jumped 5% in May compared with a year earlier, the largest increase in 13 years.

The yield on the 10-year Treasury note dipped to 1.47%.