Major U.S. stock indices surged on Thursday after a softer-than expected inflation report bolstered bets that the Fed will downshift to a slower tightening cycle.

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Federal Reserve officials are out in force this week following last week’s 75 basis point rate hike.

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Equity futures rally after US inflation data shows positive signs of easing. With S&P 500 gaining over 4% with Dax 40 roaring past 14000.

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It’s been a fast reaction to CPI data and a quick shift in sentiment as stocks are soaring and the USD is falling after inflation printed at 7.7% for last month.

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October U.S. inflation eased to 7.7% from 8.2% in September, well below expectations, a sign that price pressures are starting to moderate a more rapid pace than initially anticipated.

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