Buy or Sell Stocks After CPI Report? Check the Chart.

U.S. stocks on Wednesday are lower, with tech leading the way despite the relief rally underway in bonds. 

Why does any of this matter? Because investors are trying to sort out which direction is next following the monthly CPI report, which was released before the open.

Bulls were likely leaning on the consumer price index coming in below expectations — highlighting that inflation is cooling — to use it as an excuse for a much-needed oversold rally. 

We saw nice premarket gains ahead of the report, which moved at 8:30 a.m. ET. Those gains reversed lower once the CPI report for April came in at 8.3%, which was above expectations for 8.1%.

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