Wall Street Rallies on Strong Bank Earnings and Positive Inflation News

U.S. Stocks surged on January 15, 2025, with the Dow rising by 644 points, or 1.52%, following positive inflation data and strong bank earnings. JPMorgan Chase reported a record annual profit of $58.5 billion, while Goldman Sachs and Citi also posted significant profits in the fourth quarter of 2024. The core Consumer Price Index showed a slowdown in inflation, rising only 0.2% from November and easing to 3.2% year over year, according to the Bureau of Labor Statistics. Market analysts believe the decrease in core inflation may alleviate pressure on stock and bond markets, potentially opening the door for interest rate cuts later in the year.