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.
