Dow rises, Nasdaq hits record high, S&P nears 5,300 points after CPI data fuels gains

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“Today’s number, as well as yesterday’s (producer price index), imply a 0.23% increase in the April core PCE index, by our estimation, which would take the year-ago gain down from 2.8% to 2.7%,” JPMorgan’s Michael Feroli said.