Stock Market Update

[BRIEFING.COM] The major averages are holding on to their gains as the market enters the final half hour of the session.

Tomorrow morning's release of the March CPI report (Briefing.com consensus 0.3%) will be the first real test of whether inflation is broadening beyond energy into the core basket.

February PCE data came in largely in line, but its 3-month (4.1%) and 6-month (3.4%) annualized trends suggest inflation was already heating up before the war. March CPI is expected to show a sharp acceleration, driven primarily by a surge in energy prices tied to the Iran conflict. A hotter core print (>0.5%) would raise concerns about persistent inflation, pushing yields higher and pressuring equities.