The latest CPI data revealed that inflation continues to be hot. Stock futures were slightly up Wednesday night.

Futures that are tied to Dow Jones Industrial Average increased 80 points (or 0.2%) S&P 500 futures and Nasdaq 100 futures each rose 0.2% also.

Disney stock shares dropped about 2% in the hours following its earnings report for its latest quarter, despite strong results. Covid, the company stated, is being repurchased. still weighing on its theme parksAsia

The Dow dropped 326 points or 1.02% in regular trading. The S&P 500 slipped 1.65% and the Nasdaq Composite dropped 3.18%.

Investors were surveyed and the moves took place. the latest inflation dataAccording to a report by, consumer prices increased 8.3% in April. This was slightly more than they expected, but still within reach of their high of 8.5% 40 years ago. However, analysts have mixed opinions about whether this data indicates that inflation is at a high point.

While the market briefly turned positive at one point in the session, the S&P 500 at one point touched a new 52-week low and eventually closed at its lowest level of the year. The S&P 500 is more than 18% off its high and down more than 17% since the start of the year.

Tom Lee, Fundstrat’s market bull, remains positive on stocks. His prediction was that if the stock market is stable, “we will be in a world where double-digit expected returns.”

Lee said that this week was “interesting” because stock market falls have been accelerating downwards. However, things which would normally support a waterfall decline such as yields and the VIX are not. Lee spoke on CNBC’s “Closing Bell,” Overtime. The bond market has actually been stable despite a high CPI, and even though the VIX is actually falling.

He also noted that although the market experienced a decline of 16% during a 4-month period in 1940, the rate of return was greater six months later for 12 events.

SoftBank will announce earnings before the bell on Thursday morning. After the bell, Toast, Poshmark, and Affirm will be reporting earnings.

Investors will keep an eye out for new data on the unemployment rate, due to be published at 8:30. Investors are also eager to see new data from the producer price index which measures wholesale prices.