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Inflation Was Terrible. Here’s Why the Market Rallied.


Why Is the Stock Market Up Today? It’s Complicated. | Barron’s

Stop making sense,” the Talking Heads once sang. The stock market took it literally on Thursday with a massive rally following an inflation reading that everyone agreed was way too hot. So what gives?

There’s no dismissing September’s consumer price index. The CPI rose 0.4% in September, up from 0.1% in August, and above estimates for 0.2%. Core consumer prices, which don’t include food and energy, rose 0.6%, above forecasts for 0.4%, and unchanged from August. CPI rose 8.2% year over year, down a tick from 8.3%, but core CPI climbed 6.6%, from 6.3%. Other than car and apparel prices falling, there was little in the report that inflation was anywhere near tamed.

Stocks Surge in Wild Ride After CPI Data Selloff: Markets Wrap

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