The S&P and Nasdaq market up more than 2% as a positive CPI report is reported prior to market open on Wednesday morning.
The annual inflation rate has eased from 9.1% to 8.5% which gives investors a sign of hope in the current economy. Although 8.5% annual inflation still nears a four-decade high, stocks spike up with the Nasdaq just shy of a 3% day gain.
"I don't think we should be celebrating too much", said Jake Jolly, a senior investment strategist "we're still very far from being out of the woods here"