Wall Street soars on record bank profits and cooling inflation

US stocks surged on Wednesday following a positive inflation report and strong bank earnings.

The Dow rose 703 points, or 1.65%, with the S&P 500 up 1.83% and the Nasdaq climbing 2.45%.

Inflation data showed a slowdown in core consumer prices, easing concerns about rising inflation and interest rates.

Robust fourth-quarter profits from major banks, including JPMorgan Chase, Goldman Sachs, Citi, Wells Fargo, and BlackRock, boosted market sentiment.

The VIX, Wall Street’s fear gauge, fell 13%, signaling investor relief, CNN has reported.

read more: https://www.cnn.com/2025/01/15/investing/us-stocks-inflation-bank-earnings/index.html

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