Inflation data sparks stock market rally.

US stocks rose after the release of March's CPI data, which showed a slower pace of consumer price gains than in February, with the headline inflation rising at an annual clip of 5%, below expectations of 5.2%. The S&P 500 added 0.22%, while the Dow Jones Industrial Average gained 0.3%. The yield on the 10-year note ticked down to 3.42%, while rate-sensitive two-year note yields slipped to 4.0% Wednesday morning. Investors will continue to digest Wednesday’s CPI report as it could provide some clues to whether the Fed will continue to raise rates at its next meeting.