Stocks Surge on Cooling Inflation and Upbeat Earnings, S&P 500 Nears Record High
• Wall Street climbing, S&P 500 may surpass all-time closing high of 4,796.56 set 2 years ago
• Inflation cooling to 3.4% and potential Fed interest rate cuts in 2023 boosting market optimism
• Strong economy keeping recession worries at bay, but also putting upward pressure on inflation
• Preliminary data shows jump in U.S. consumer sentiment and expectations that inflation will stay anchored
• Stocks like Travelers, State Street, tech companies rising on earnings beats; Spirit Airlines recovers some losses