Traders
walk
the
floor
during
morning
trading
at
the
New
York
Stock
Exchange
(NYSE)
on
May
14,
2024
in
New
York
City.
Spencer
Platt
|
Getty
Images
Stock
futures
were
near
flat
Wednesday
evening
after
a
lighter-than-expected
inflation
reading
propelled
the
major
averages
to
record
highs.
Futures
tied
to
the
Dow
Jones
Industrial
Average
added
32
points,
or
0.08%.
S&P
500
futures
ticked
higher
by
0.06%,
while
Nasdaq
100
futures
advanced
0.1%.
In
regular
trading,
all
three
major
averages
closed
at
records.
The
Dow
climbed
0.88%,
while
the
broad-market
S&P
500
gained
1.17%,
ending
the
session
above
5,300
for
the
first
time. The
tech-heavy
Nasdaq
Composite
closed
higher
by
1.40%.
That
performance
was
helped
by
the
April
reading
of
the consumer
price
index,
a
broad
measure
of
how
much
goods
and
services
cost
at
the
cash
register,
which increased
0.3%
from
the
prior
month.
That
was
slightly
below
the
Dow
Jones
estimate
of
0.4%.
Consumer
prices
still
grew
3.4%
from
a
year
ago.
“The
market
is
recognizing
that
the
inflation
dynamics
look
favorable,”
Yung-Yu
Ma,
chief
investment
officer
at
BMO
Wealth
Management,
told
CNBC.
“Combine
that
with
some
of
the
takeaways
from
the
earnings
season,
which
were
pretty
healthy
earnings
and
favorable
outlooks
overall,
the
market
was
just
coiled
to
look
to
interpret
news
as
good
news.”
“[That]
is
the
hallmark
of
a
bull
market,”
he
added,
“to
take
take
something
that
could
be
two-sided
and
call
it
good.”
On
Thursday,
investors
have
a
batch
of
economic
data
to
look
forward
to,
including
the
widely
watched
weekly
jobless
claims
at
8:30
a.m.
Eastern
and
the
Philadelphia
Federal
Reserve
manufacturing
index.
Investors
are
also
looking
forward
to
Walmart
earnings,
due
before
the
bell,
along
with
Under
Armour
and
Baidu.
