The S&P 500 closed at a record 7,798.99 on Thursday, clearing 7,800 intraday for the first time, after two straight inflation reports came in cool enough to push a September rate hike out of the picture.
One Wall Street analyst highlighted that the data did more than remove a threat.
It widened the range of good outcomes.
"The right tail for equities has increased," 22V Research's analyst Dennis DeBusschere wrote in a note to clients Friday.
In plain terms: the odds of the upside scenario just went up.
