Overview

• US consumer prices rose 3.4% year-over-year in April, slightly below March's 3.5%.
• Core inflation, excluding food and energy, also saw a decrease, marking the slowest pace since early 2021.
• The S&P 500 and Nasdaq hit record highs, driven by optimism for potential rate cuts.
• Bond yields fell as investors adjusted expectations for Federal Reserve policy changes.
• Retail sales data showed signs of a slowing economy, adding to the case for potential rate cuts.