Stocks Head Lower After CPI Report; Axon, ARES, CAVA In Focus

Sellers hit stocks hard after core consumer prices on a year-over-year basis came in hotter than expected for the fourth straight month. The 10-year Treasury spiked 19 basis points to 4.56%.  Declining stocks outnumbered advancers on the Nasdaq by nearly 4-to-1, but buyers lifted the index off lows by the close. Axon and Ares Management are both forming flat bases, while Cava is in an alternate buy zone.