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Wall Street Today: JPM and Banking Leads Market Higher

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Kevin Travers joined discussion · Jan 16 05:01
Wall Street Today: JPM and Banking Leads Market Higher
Wednesday, the market felt it was returning to the mean: stocks soared on positive signs from earnings, and the inflation rate did NOT climb more than feared in December.
Just past 4 pm ET Wednesday, $Dow Jones Industrial Average (.DJI.US)$ climbed 1.65%, while the $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ gained 1.83% and 2.45%, respectively.
MACRO
In macroeconomics, the Consumer Price index grew at just 2.9% in December, above November's 2.7% but still in line with expectations. Core CPI hit 3.2%, matching lows set since 2021 and leading to hopes inflation was actually going down. Watch later today for Fed speeches and the FOMC Beige Book summary of economic conditions that the committee uses to decide on macro policy.
Wall Street Today: JPM and Banking Leads Market Higher
The Federal Reserve's latest Beige Book survey indicates that prices have risen over the past six weeks and are expected to continue this trend into the new year, particularly with the potential implementation of higher tariffs proposed by President Donald Trump. While most Federal Reserve districts reported modest price increases, some sectors, especially retail and manufacturing, saw flat or declining prices. Input costs varied but generally increased, as lower fuel prices were offset by rising insurance costs.
SECTORS
Wall Street Today: JPM and Banking Leads Market Higher
Microsoft declared 2025 "the year to become quantum-ready" and unveiled a corporate training program on Tuesday, a set of workshops and forums called the Quantum Ready program. The AI-semi and tech stock market climbed Wednesday.
Elsewhere in the economy, $Crude Oil Futures(APR5) (CLmain.US)$ climbed to $79/barrel. The EIA said oil inventories fell 1.96M barrels Wednesday. Gold and silver climbed, and treasuries fell after weaker and in-line inflation news. $Bitcoin (BTC.CC)$ climbed again to nearly $100k!!!
MOOVERS
$Spotify Technology (SPOT.US)$ stock has been on a tear, and Wall Street believes shares can keep hitting all the right notes in the new year.
$Tempus AI (TEM.US)$ shares were up more than 11% shortly after 11.45 am ET Wednesday, after the company launched its FDA-approved in vitro diagnostic device, xT CDx.
Bank earnings were leading the market, reflecting gains in investment banking and dealmaking. $JPMorgan (JPM.US)$ was up slightly Wed, posting $14 billion in profit the period, rising 50% from a year earlier. Shares of $Wells Fargo & Co (WFC.US)$ climbed 6% after posting higher earnings but lower revenue than last year. $Goldman Sachs (GS.US)$ rose 5% after the investment bank posted a profit Wed that rose 68% to $14.28 billion. $Blackrock (BLK.US)$, the world's largest asset manager rose 3% after the firm's AUM rose to $11.6 trillion in the period, up 15% from a year earlier.
$Citigroup (C.US)$ stood apart, on track for the highest percentage gain in years Wednesday of 7% after fourth-quarter earnings of $1.34 a share topped analysts' estimates of $1.22. This is in part due to the efforts of CEO Jane Fraser, who has reorganized and sold parts of the business.
$Bank of New York Mellon (BK.US)$ said quarterly earnings leaped higher as fee and interest revenue climbed and costs came down from a year earlier, helping lead bank stocks higher.
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Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
SECTORS
MOOVERS
Word from the herd: Mooers, what are you watching?  
Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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