The stock market managed to rebound after the latest inflation figures did little to alter bets the Federal Reserve will cut rates this year — even if it keeps a more cautious stance for now.
Following a series of twists and turns, the S&P 500 pushed decidedly higher. Notwithstanding the fact that the consumer price index continued to show some signs of “stickiness,” the overall report came only slightly above estimates. While that’s not ideal for a central bank trying to get close to to its 2% target, the February CPI was not a shocker to traders dreading another post-inflation selloff.