Stock Market Today: Stocks Lift Off After Encouraging Inflation Report

Stocks blazed a path higher Thursday after the latest consumer price index (CPI) showed inflation cooled in October.

Ahead of the opening bell, the Labor Department said consumer prices increased 7.7% year-over-year in October – the slowest annual gain since January. On a monthly basis, the CPI was up 0.4%. Both figures were smaller than economists were anticipating. Core CPI, which excludes volatile energy and food prices, also increased at a slower-than-expected pace last month.