Evening Market Recap - Wednesday, 15-May

US equities finished higher in Wednesday trading, ending near session highs, with the Dow Jones, S&P500, and Nasdaq closing up 88bps, 117bps, and 140bps respectively. The S&P 500 set a new record close for the first time since 28th of March. Headline CPI a bit cooler than expected in April while core CPI was in line with consensus. Retail sales came in below expectations, while April’s NAHB homebuilder sentiment saw a greater-than-expected drop. Fed’s Kashkari said it would be prudent to sit a while and figure out where inflation is headed.