This CPI report put the domestic inflation trajectory back on the "soft landing" path, where it had veered away from somewhat.
The Nasdaq composite added 1.4% to its own record set a day earlier, while the Dow Jones Industrial Average rose 0.9% to beat its own recent high. The Nasdaq composite rose 231.21 points, or 1.4%, to 16,742.39.
The Russell 2000 kicked off Wednesday with a small bounce, yet it was still its most notable surge following an inflation report this year. The small-cap stock market index was up 0.7% as consumer price index data showed a promising dip on an annual basis.