A scintillating knock from all three major indices as Wall Street showed one of the best rallies in recent years. This was obviously triggered by promising CPI data (including core CPI) that showed that the rate of price increase was lower than estimated. The data seems to be start of what Federal Reserve would like to see as an effect of their moves to fight inflation. This has raised optimism on slowing the rate of interest rate hikes. I suppose Feds would like to see sustained improvement in CPI numbers but nevertheless, this was very good news. In addition to that, there was also some news about Russia retreating from some region of Ukraine that might also added to the optimism. We have to start watching for signs of a sustained year end rally.
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