Profit-Plumped Stock Market Walks Past Inflation Shock With Barely a Bruise
- Stock benchmark snaps longest winning streak since August 2020
- Companies still able to get consumers to accept higher prices
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It took the hottest inflation print in three decades to finally halt the S&P 500’s five-week advance. But it was hardly a body blow for a stock market where resilience continues to be the headline story.
The S&P 500 fell for the first time in six weeks, breaking the longest winning streak since August 2020. Inflation-sensitive consumer discretionary stocks led declines after a Wednesday report showed last month’s consumer price index accelerated at the fastest pace since 1990.