Inflation's Impact on Stocks Fades as Markets Tick Higher

Stocks on Wall Street rose slightly after a report showed inflation at the wholesale level slowed last month by more than expected. The hope is that easier inflation on the wholesale level will not only support profits for companies but also flow through to cooler inflation for consumers. High inflation and how high the Federal Reserve will hike interest rates to tame it have been at the center of Wall Street’s struggles for more than a year. The Fed has hiked rates at every one of its meetings since early last year, often by double or triple the usual amount.