The stock market is stabilizing with modest gains following better-than-expected inflation data, indicating a 2.4% rise in consumer prices compared to last year. President Trump's announcement of a successful trade deal with China reinforces market optimism. The inflation figures, a slight uptick from April, have surpassed economist predictions due to rises in food costs, although mitigated by declines in energy and apparel. Major indices such as the Nasdaq, S&P 500, and Dow are all showing positive movement in early trading.
The markets are catching their breath today, buoyed by signals of inflation holding steady and the continued progress in U.S.-China trade discussions. May's CPI data delivered an unexpected positive, showing inflation nudging just slightly higher to 2.4% compared with year-ago levels.
President Trump announced that the trade deal with China is a done deal, describing the relationship between Washington, D.C. and Beijing as 'excellent.' This sentiment is contributing positively to market performance.
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