"US Stocks Surge as Reddit Plans $750 Million IPO Amid CPI Surprises"

US stocks rose after higher-than-expected inflation data, with the S&P 500 up 0.5% and the Nasdaq Composite climbing 0.7%. The Consumer Price Index showed a 0.4% monthly gain and a 3.2% annual increase, slightly higher than expectations, influencing expectations for Federal Reserve interest-rate cuts. Meanwhile, bitcoin continued its rally, reaching above $72,200, and Oracle shares jumped 12% on progress in cloud computing and a tie-up with Nvidia. Apple's stock has been underperforming due to concerns about AI plans, China demand, and regulatory worries.