Fed rate cuts likely coming after June -strategist

STORY: U.S. consumer prices ticked up 0.4% in February amid higher costs for gasoline and shelter. And the annual inflation rate increased 3.2%, after advancing 3.1% in January.

Despite still-sticky inflation, stocks rose on the news, as financial markets continue to expect the Fed will start cutting rates in June. But Stovall says later in the year is more likely.

"I think the Fed feels that because employment remains strong, because the economy remains strong, they can take their time."