Stocks rally on lower CPI and Trump backing off Hormuz tolls

Wait 5 sec.

It was an upbeat day in the stock market as equities got a lift from three main events:US CPI lower than expected at 3.5% y/y vs 3.8% expectedEarnings from financials were strongTrump TACO'd on 20% tolls in HormuzInternally, the chip battle continued and not all the financials made gains. Some of the movers:NVDA +4.1%GOOGL +2.1%MSFT -1.4%MU +5.0%GS +9.3%WFC -2.3%C -5.0%JPM +2.5%LLY -2.2%INTC +4.3%In the S&P 500, there were 179 stocks up and 298 down. Tehre are no important earnings after the bell but before the open tomorrow we get ASML, which is a big one for the chip names. We also get Johnson & Johnson and Morgan Stanley.Closing changes for the main indexes:S&P 500 +0.4%Nasdaq Comp +0.9%DJIA - flatRussell 2000 +0.4%Toronto TSX Comp +0.2% This article was written by Adam Button at investinglive.com.