The S&P 500 Index ($SPX) (SPY) today is up +1.50%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +1.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.75%. March E-mini S&P futures (ESH25) are up +1.67%, and March E-mini Nasdaq futures (NQH25) are up +1.95%.
Stocks today are moving sharply higher, with the S&P 500 climbing to a 1-week high and the Dow Jones Industrials climbing to a 2-1/2 week high. Stocks soared, and bond yields tumbled after a Fed-friendly US December consumer price report showed an unexpected easing of core inflation. The slowdown in consumer prices has bolstered speculation the Fed will still be able to cut interest rates this year. Also, better-than-expected quarterly earnings from big US banks today lift the overall market after Citigroup, JPMorgan Chase, Blackrock, Goldman Sachs, Bank of New York Mellon, and Wells Fargo all beat consensus estimates.
