Stock Market Today: Stocks Mixed After May CPI, Fed Meeting

The May CPI report came in better than expected, but the Fed still lowered its rate-cut expectations for the year.

closeup of bar chart with more green bars going up than red bars going down
(Image credit: Getty Images)

Stocks shot higher out of the gate Wednesday as better-than-expected inflation data hit just as the Federal Reserve wrapped up its June meeting. And two of the three main indexes held onto their gains even after the central bank lowered its rate-cut expectations for this year.  

Ahead of the open, the Bureau of Labor Statistics said headline CPI for May was flat on a month-to-month basis and up 3.3% annually. Both figures were lower than what was seen in the April CPI report and came in below economists' expectations. 

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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.