maswerte

NEW YORK, NEW YORK – JANUARY 15: Traders work on the floor of the New York Stock Exchange (NYSE) on January 15, 2025 in New York City. Trading volume surged on the NYSE and Nasdaq, with advancing stocks significantly outnumbering decliners. The Russell 2000 continued its strong performance, while the Innovator IBD 50 ETF gained 3%. Several stocks within the IBD 50, including Robinhood, Rocket Lab, and Intuitive Machines, saw substantial gains. Despite a strong 2024, Palantir, a top S&P 500 performer, declined in January, prompting investor Cathie Wood to reduce her stake. David Dee Delgado/Getty Images/AFP (Photo by David Dee Delgado / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

Washington, United States — Stock markets surged on Wednesday, buoyed by robust US bank earnings and encouraging inflation data from the United States and Britain.

Wall Street’s three main indexes closed sharply higher after US financial titans Goldman Sachs, JPMorgan Chase, BlackRock and others posted stellar quarterly results.

Article continues after this advertisement

READ: Bargain hunt buoys blue chips

FEATURED STORIES BUSINESS BIZ BUZZ: Wanted: New BSP deputy governor BUSINESS Weaker peso curbed remittances in November BUSINESS Marcos signs into law bill promoting development of natural gas industry

Fresh data published earlier Wednesday showed headline inflation in the Untied States accelerated in the 12 months to December, but actually slightly eased once volatile food and energy prices were stripped out, fueling optimism in the markets.

“There’s a lot of relief from the (inflation) data this morning,” Angelo Kourkafas from Edward Jones told AFP, noting there had been a positive market reaction to the decline in the so-called “core” inflation measure.

kimochi4d slotArticle continues after this advertisement

European stock markets closed firmly in the green, while Asia finished on a mixed note.

Article continues after this advertisement ‘Look through price increases’

Kathleen Brooks, research director at trading platform XTB, noted that the US Federal Reserve closely looks at core inflation to make decisions on interest rates.

Article continues after this advertisement

“The Fed could choose to look through price increases for volatile commodities that they cannot control,” she said. “Instead, the Fed may focus on core inflation,” she said.

Analysts have pared back their expectations on the number of Fed rate cuts for this year.

Article continues after this advertisement

They believe policymakers will hold borrowing costs steady at the next decision-making meeting later this month as inflation remains above its two-percent target.

In Britain, official figures showed that inflation unexpectedly cooled to 2.5 percent in December, easing some pressure on the Labour government as it struggles to grow the economy.

The pound rose against the dollar, with analysts forecasting that the Bank of England would likely cut its key interest rate next month as the rate of price increases cools.

Separate official data showed Europe’s biggest economy Germany contracted for a second straight year in 2024, with little hope of a strong recovery ahead of national elections next month.

Nintendo jump

In Asia, Tokyo’s stock market ended down, though games giant Nintendo piled on more than two percent and briefly hit a record high as traders anticipated it would soon release its much-anticipated Switch 2 console.

The Nikkei 225’s drop also came as the yen strengthened, with traders weighing the chances of a rate hike by the Bank of Japan this month.

Oil prices soared more than 2.6 percent after the International Energy Agency said a colder winter has pushed global demand higher.

Oil traders were also digesting recent US sanctions on Russia and Iran, raising fears they could restrict supplies from those countries.

The market optimism also trickled through into the cryptocurrency markets, with bitcoin briefly returning above $100,000 before paring some gains.

Key figures around 2130 GMT

New York – Dow: UP 1.7 percent at 43,221.55 points (close)

New York – S&P: UP 1.8 percent at 5,949.91 (close)

New York – Nasdaq Composite: UP 2.5 percent at 19,511.23 (close)

London – FTSE 100: UP 1.2 percent at 8,301.13 (close)

Paris – CAC 40: UP 0.7 percent at 7,474.59 (close)

Hockey India President Dilip Tirkey expressed his enthusiasm and stated: "This bilateral series against Germany will be a remarkable showcase of world-class hockey. Both India and Germany have a rich history in the sport, and this series will give fans an opportunity to witness an intense competition between two of the most formidable teams in the world.

Frankfurt – DAX: UP 1.5 percent at 20,574.68 (close)

Tokyo – Nikkei 225: DOWN 0.1 percent at 38,444.58 (close)

Hong Kong – Hang Seng Index: UP 0.3 percent at 19,286.07 (close)

Shanghai – Composite: DOWN 0.4 percent at 3,227.12 (close)

Euro/dollar: DOWN at $1.0293 from $1.0310 on Tuesday

Pound/dollar: UP at $1.2239 from $1.2211

Dollar/yen: DOWN at 156.52 yen from 157.98 yen

Euro/pound: DOWN at 84.08 pence from 84.40 pence

Brent North Sea Crude: UP 2.6 at $82.03 per barrel

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

West Texas Intermediate: UP 3.3 percent at $80.04 per barrelmaswerte

READ NEXT US consumer inflation rises to 2.9% in December Bargain hunt buoys blue chips EDITORS' PICK Sinulog 2025: Concerns over alleged unfair judging raised Labor lawyer, workers’ group ask Supreme Court to disqualify Quiboloy DOST appeals for funding to finish construction of virus research center Court orders arrest of 29 in ‘staged’ antidrug ops Marcos, Duterte, other execs’ satisfaction ratings down Court orders arrest of 29 cops involved in mishandling P6.7B shabu case MOST READ SC affirms guilty verdict on man who used identity of deceased lawyer BMI: Peso fall below 60 vs $1 still possible Israel and Hamas agree to a ceasefire deal OVP says it has no approved budget for medical, burial assistance Follow @FMangosingINQ on Twitter --> View comments