Stock Market Gains, Oil Prices Surge After Wholesale Inflation Points Higher; Earnings Reports Lift Some Stocks.

The stock market gained Wednesday in spite of another elevated reading on inflation. Earnings reports started to come in for Q1 earnings season, mostly adding a positive lift to the stock market.

IBD 50 Rises On Energy, Steel, Food Stocks.
The Innovator IBD 50 $Innovator Ibd 50 Etf (FFTY.US)$ rose 2.2% as energy, fertilizer, steel and food-related stocks gained.

Steelmaker $Nucor (NUE.US)$ jumped 3% past its profit zone, off a double-bottom entry with a buy point of 126.77.

Please read this Investor's Corner on one key to long-term gains: taking a lot of profits at 20% to 25%.

Candy maker $Tootsie Roll Industries (TR.US)$ is climbing the rear wall of a cup base pattern and approaching a buy point of 38.16. Watch for a handle to form over the next few days, which could give investors a lower entry point.