S&P 500 Pushes Past Previous Record After Inflation Report

Wall Street experienced a rally as the latest inflation data suggested potential for interest rate cuts this year. The S&P 500 surged 1.2%, surpassing its previous record from March 28, and marking a significant recovery from a 5% drop earlier in April. This shift in investor sentiment reflects growing optimism that prolonged high interest rates might not persist, buoying both the economy and the markets.