Stock Market Today: Stocks Close at Record Highs After April CPI

Bulls stormed Wall Street today after a key inflation report showed consumer price growth cooled in April.

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(Image credit: Getty Images)

Stocks opened higher Wednesday and kept climbing into the close as market participants cheered encouraging inflation news. A strong rally in several large- and mega-cap tech stocks created tailwinds, too, with the three main indexes notching record highs.  

Wall Street was anxiously awaiting this morning's release of the April Consumer Price Index (CPI) and the data did not disappoint. The Bureau of Labor Statistics said headline CPI was up 0.4% month-to-month and 3.4% year-over-year in April, lower than what was seen in March.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.