U.S. stocks rallied to records Tuesday, led again by technology companies, as some of Wall Street’s most influential got back in their groove. The Standard & Poor's 500 jumped 1.1% to top its all-time high set last week. The Dow Jones industrial average climbed 0.6%, and the Nasdaq composite jumped 1.5%. All three indexes began the day with losses after a highly anticipated report on inflation said U.S. consumers paid prices that were a bit higher last month than economists expected.
The worse-than-expected data kept the door closed on hopes that the Federal Reserve could deliver long-sought cuts to interest rates at its meeting next week. But the inflation figures were still close to expectations, and traders held on to hopes that the longer-term trend downward means the Fed will begin the hoped-for cuts in June. That helped stock indexes to reverse their losses as the day progressed. Plus, inflation may not be as hot in reality as the morning’s report suggeste
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