• Stocks rally even with inflation surge, oil hits $81

  U.S. stocks dismissed the 7% jump in the Consumer Price Index last month, the highest inflation level since 1982. All three of the major averages rose with technology and material companies pacing the gains, while healthcare lost ground. Biogen fell 8% after Medicare said it will limit coverage of its Alzheimer's drug. In commodities, oil topped $81 per barrel.

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