Positive CPI Data and Bank Earnings Boost US Markets

The New York stock exchanges witnessed a significant uptick at the opening on Wednesday. This surge was fueled by an optimistic consumer inflation report for December and robust fourth-quarter earnings from leading US banks. Notable among these were JPMorgan, BlackRock, Wells Fargo, Goldman Sachs, and Citigroup, all of which reported strong financial performances.

Market Performance Highlights

At 9:31 am ET, the Dow Jones had increased by 1.60%, or 632 points, with Goldman Sachs Group Inc. seeing a 4.02% rise. The Nasdaq 100 also climbed by 1.51%, led by Applovin Corporation, which surged by 4.83%. Shortly after, the S&P 500 rose by 1.43%, with Edison International leading the charge with a 6.60% increase.

Currency Market Movements

In the currency markets, the euro strengthened against the dollar, marking a 0.41% increase at 9:28 am ET, trading at $1.03434.