Stock market today: Wall Street rips higher after inflation data and strong bank profits
- U.S. Stocks surged after positive inflation data and strong bank profits, with the S&P 500 rising 1.7% in afternoon trading.
- Wells Fargo and Citigroup reported better-than-expected profits, boosting their stocks by 6.6% and 6.9% respectively.
- The Consumer Price Index showed an annual increase of 2.9%, while core inflation eased to 3.2%, signaling potential for future rate cuts.
- Analysts believe the recent inflation data may open the door for interest rate cuts later in the year, possibly in March.
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Total News Sources0
Leaning Left8Leaning Right6Center10Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 33%
C 42%
R 25%
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