Stocks Hit New Highs Despite Hotter Inflation, Led by Tech; Southwest Plunges on Forecast Cut
- U.S. stocks rallied to record highs, led by Big Tech companies
- Inflation report showed prices rose more than expected, closing door on hopes for imminent rate cuts
- Traders still hope for rate cuts in June to support the economy
- Software company Oracle reported better-than-expected profits
- Southwest Airlines stock dropped 15% after reducing its revenue forecast