Markets Are Reacting Positively to the April Consumer Price Index Report

U.S. stock futures are higher. Markets are reacting positively to the April Consumer Price Index (CPI) report. The report reveals that headline inflation has risen by 4.9% year-over-year, which is slightly lower than the anticipated 5.0% increase. Apart from the headline figure, the report largely matched expectations, with core inflation experiencing a 5.5% increase, in line with the consensus estimate. Furthermore, tomorrow morning's Producer Price Index (PPI) will provide the markets with another assessment of inflation. While Asian markets concluded mostly lower, European markets are trending upwards. Moreover, both crude oil and gold prices are increasing, while the CPI report has sent the dollar lower.