U.S. stock market hits another record high as inflation cools
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The stock market hit a new record high on Wednesday, with all major indices notching uncharted territory.
Why it matters: The optimism embedded in stock prices stands in stark contrast to a much gloomier national mood in an election year almost no one is excited about.
Follow the money: The last all-time high was set on March 28.
Driving the news: Inflation came in cooler than expected in April — a sign that the Fed's high interest rates are doing their job and that prices are largely under control.
The bottom line: If consumer prices continue on their current trend, we could see the Fed cutting rates in September. That's a large part of what the stock market is excited about.
Go deeper: Wall Street traders keep underestimating America's economic strength
