Wall Street traders push the stock market up and bond yields fall because slowing inflation strengthens people's bets that the Federal Reserve will cut interest rates as early as September. After the data showed that the consumer price index cooled for the first time in six months in April, the S&P 500 index broke through the closing record before it broke through. The swap market reflects the acceleration of the Federal Reserve's policy relaxation this year. Furthermore, retail sales in the US stagnated in April, and the increase in the previous two months was revised downward. CIBC Private Wealth analyst Gary Pzegeo said, “The market is satisfied with this data and the news of core inflation is better than expected. The consumer sector, which was previously popular, has also slowed down. In summary, this supports the Federal Reserve's interest rate cut in the fall.” Almost all major constituents of the S&P 500 index rose close to 5,275 points. Tom Essaye, founder of research firm Sevens Report, said that overall, the data shows that there is still work to be done on inflation, but most importantly, it reminds investors that a fall in inflation is still taking place — this will support the stock market.