Stocks hit highest level in 2 months as inflation cools

A rally on Wall Street lifted stocks to their highest level in almost two months in the latest sign thatThe S&P 500 rose 54 points, or 1.3%, to close at 4,146 on Thursday after a report showed inflation at the wholesale level slowed last month by more than expected.

The Fed has hiked rates at every one of its meetings since early last year, often by double or triple the usual amount. High rates can smother inflation but only by slowing the entire economy, raising the risk of a recession and hurting prices for investments. Several of the biggest banks will report their results Friday, potentially offering more clues. One of the fears on Wall Street is that recent turmoil in the banking system could cause a pullback in lending, which in turn could weaken the economy. The Fed's staff economists see such weakness potentially causing a mild recession later this year, the central bank said Wednesday.

Bullshit. This means squat. Gas prices still high, food prices rising, cost of living at a rate we haven’t seen. Just because rich people can manipulate the stock market doesn’t mean shit to 99% of us.

Lie much?

Yeah. Aight.

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