US stocks surged higher Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks.
A benign December inflation report was all it took to ignite another strong rally on Wall Street, with major indices delivering their best weekly performance since the post-election surge in early November.
Asian shares are mixed after gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.
Survey finds tariffs, tax cuts and immigration policy could weigh on price outlook for next two years.
U.S. stocks ripped higher Wednesday following a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from Wells Fargo and other big U.S. banks also helped launch indexes to their best day in two months.
Wall Street’s main indexes rose on Tuesday, with the blue-chip Dow at a more than one-month high, as investors assessed President Donald Trump’s executive orders after taking office and awaited his first move on trade policy. In morning trading, the Dow Jones Industrial Average rose 423 points, or 1%, to 43,911.
U.S. inflation picked up last month as gas prices rose sharply, though price gains for other goods and services were more muted.
SLB helped lead the market after the provider of services to oilfields delivered bigger profit and revenue for the end of 2024 than analysts expected. It jumped 6.1% after it also raised its dividend by 3.6% and said it’s returning $2.3 billion to its investors by buying back its own stock.
U.S. stocks are ticking higher following an encouraging update on inflation. The S&P 500 rose 0.4% in early trading Tuesday. The Dow Jones Industrial Average was up 163 points, and the Nasdaq composite was 0.
US stocks jumped on Wednesday after consumer price data showed inflation continues to slow. Strong bank earnings also helped lift sentiment.
World stocks are mixed follow Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of the Federal Reserve’s rate cuts.
NEW YORK — Most U.S. stocks rose Tuesday following an encouraging update on inflation, though drops for Eli Lilly and other influential stocks kept indexes in check. The Standard & Poor’s 500 ...