Bank of New York Mellon is another what a stockbroker does and how to become one financial stock climbing after earnings Wednesday. The three major indexes are on pace to notch their best day since the session immediately following November’s presidential election. The SPDR S&P Oil & Gas Exploration & Production ETF rose Wednesday and headed toward its sixth straight gain and its 15th positive session out of the last 16. The communication services sector jumped 2.7% on Wednesday, leading the S&P 500 higher. West Texas Intermediate crude hit $80.04 at session highs, marking its most expensive level since Aug. 13.
- Large banks kick off the new earnings season this week, with Goldman Sachs, JPMorgan Chase, Citigroup, and Wells Fargo all slated to report on Wednesday.
- JPMorgan Chase shares rose nearly 2% after the bank reported an EPS and revenue beat, which was driven by strong fixed-income trading and investment banking results.
- Headline inflation increased 2.9% on a 12-month basis, in line with forecasts.
- Bank ETFs popped Wednesday after several of the major U.S. banks reported stronger-than-expected earnings for the fourth quarter.
- The company earned $11.93 per share on revenue of $5.68 billion.
- The so-called core consumer price index, which strips out volatile food and energy prices, rose 3.2% in December year over year.
- Semiconductor stocks advanced Wednesday, as growth stocks broadly popped on the downturn in yields after the latest consumer price index report showed core inflation slowing in December.
Dow soars above 44,000 level, S&P 500 closes near record as Trump holds off on tariffs
But Trump then hinted late Monday that he was looking at imposing 25% duties for Mexico and Canada starting Feb. 1. By entering your email address, you agree to our Terms of Use and acknowledge the Privacy Policy.
Communication services leads Wednesday’s gains
All market data (will open in new tab) is provided by Barchart Solutions. The SEC filed a lawsuit against Elon Musk on Tuesday, alleging that the billionaire violated securities law in 2022 by acquiring Twitter shares at „artificially low prices.” The Nasdaq Composite has jumped more than 2%, while the Dow and S&P 500 gained 1.5% and 1.6%, respectively. If those moves hold, Wednesday would the best day for each since Nov. 6, when the market rallied after Donald Trump emerged as the winner of the presidential election. If the oil and gas ETF closes higher Wednesday, it will be the first time since 2006 that it has gained in 15 of 16 sessions.
Major indexes head for best day since postelection rally
It was the best-performing stock in the Dow Jones Industrial Average. December’s consumer price index showed that core inflation, which excludes food and energy, rose 3.2%, the Bureau of Labor Statistics reported Wednesday. This was a notch down from the previous month and lower than the 3.3% estimated by economists surveyed by Dow Jones.
- Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded.
- Stocks surged Wednesday after the latest consumer price index report showed core inflation unexpectedly slowed in December and major U.S. banks kicked off quarterly earnings reporting season with blowout results.
- Every weekday afternoon, get a snapshot of global markets, along with key company, economic, and world news of the day.
- Citigroup shares gained 6% after the company beat fourth-quarter estimates.
- December’s consumer price index showed that core inflation, which excludes food and energy, rose 3.2%, the Bureau of Labor Statistics reported Wednesday.
- S&P 500 futures and Nasdaq 100 futures climbed 0.1% and 0.3%, respectively.
- The Nasdaq Composite has jumped more than 2%, while the Dow and S&P 500 gained 1.5% and 1.6%, respectively.
Prediction: Stock Market Returns Will Achieve a Level Not Witnessed in 20 Years Under President Donald Trump
The firm increased its price target on the athleisure stock to $375 per share from $350, equating to about 4% downside from Tuesday’s $388.74 close. Wells Fargo reiterated its equal weight rating on Lululemon stock. Core inflation unexpectedly slowed in December, giving investors hope of Federal Reserve rate cuts later this year. The S&P 500 advanced 1.4%, while the Nasdaq Composite gained 1.7%.
Brent crude futures rose as high as $81.90, a level last reached on Aug. 12. Turning to inflation, prices rose „modestly overall” with pullbacks noted in retail and manufacturing. Economic activity ticked up over the past seven weeks, as did hiring and prices, according to an update Wednesday from the Federal Reserve. Shares of quantum companies surged pocket option forex broker review Wednesday after Microsoft called 2025 the year to get „quantum-ready.” „Equity investors have become increasingly sensitive to moves in the bond market, with an intense focus on rates, inflation, and Fed policy,” Hackett added.
Analysts expected a profit of $11.19 per share on revenue of $5.68 billion. BlackRock shares were up more than 3% in the premarket after the world’s largest asset manager reported fourth-quarter results that beat expectations. The company earned $4.81 per share on revenue of $43.74 billion. Analysts polled by LSEG expected a what is the purchasing managers’ index profit of $4.11 per share on revenue of $41.73 billion.
Economic calendar
Wells Fargo reported fourth-quarter earnings that beat the Street’s expectations, sending shares higher by around 3%. The so-called core consumer price index, which strips out volatile food and energy prices, rose 3.2% in December year over year. Overall CPI increased 2.9% year on year, in line with expectations.