Inflation Scare Takes A Breather

U.S. equity markets climbed to fresh record highs as a second straight month of encouraging CPI and PPI data eased Fed-hike fears, despite higher oil prices and softer retail sales. The S&P 500 gained 0.4%, while the Nasdaq 100 rose 1.1% as AI infrastructure winners led again. Energy surged nearly 8%, while Consumer Discretionary lagged on consumer-spending concerns. REITs were mixed as higher long-term yields offset a strong conclusion to earnings season. The Equity REIT Index gained 0.4%, led by Data Center and Cell Tower REITs.