Stock Market Today: Stocks Lift Off After Encouraging Inflation Report

The major market indexes rallied to their best day in two years after data showed inflation slowed in October.

(Image credit: Getty Images)

Stocks blazed a path higher Thursday after the latest consumer price index (CPI) showed inflation cooled in October.

Ahead of the opening bell, the Labor Department said consumer prices increased 7.7% year-over-year in October – the slowest annual gain since January. On a monthly basis, the CPI was up 0.4%. Both figures were smaller than economists were anticipating. Core CPI, which excludes volatile energy and food prices, also increased at a slower-than-expected pace last month.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at 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.