Stocks rallied after a softer-than-expected Consumer Price Index (CPI) report raised hopes for Federal Reserve interest rate cuts. The Bureau of Labor Statistics reported a 0.2% rise in prices from December to January, with annual inflation at 2.4%, below the forecasted 2.5%. This news led to increased expectations for rate reductions, boosting stocks and Treasuries. The Russell 2000 index, sensitive to economic conditions, saw a strong positive reaction. GEO Group (GEO) shares, known for volatility, saw a significant move but not one that would alter the market’s perception of the business, despite a disappointing forecast overshadowing a strong third-quarter performance.

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