The S&P 500 rose 0.8 percent on Wednesday morning, adding to three straight weeks of gains and pushing it above its previous record, set on March 28. Fresh inflation data provided the catalyst for the index to cross through its previous record.
Investors welcomed the numbers and a return to the trend of gradually receding inflation after months of disappointing data that had upset financial markets and sent stock prices lower. This is the first good C.P.I. report in four months and the market likes it.
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