Wall St surges as inflation data, bank earnings fuel rally

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The Star 4h ago

Wall St surges as inflation data, bank earnings fuel rally - The Star

Quick Summary:

US stocks surged on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major US banks fuelled a rally.

Concerns linger about potential tariffs from President-elect Donald Trump's incoming administration that would further stoke inflation.

"We've gotten so puckered over the fact that rates might be going up and this is going to be a problem and the UK won't be able to borrow money and oh, our deficit, and so everyone was kind of wound up," said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.