Wall Street Surges as Inflation Eases and Bank Earnings Shine

Stock markets soared as inflation eased and major U.S. banks reported robust earnings. The S&P 500 hit a one-week high, buoyed by lower-than-expected core CPI data and strong financial results from JPMorgan, Wells Fargo, and Goldman Sachs. The market responded positively to a ceasefire between Israel and Hamas.

Wall Street's main indexes saw significant gains, with the S&P 500 reaching a one-week high following reports of lower-than-expected inflation and strong earnings from major U.S. banks. A report by the Labor Department indicated a smaller rise in the consumer price index than anticipated, offering some relief to investors.

The S&P 500 rose by 1.38%, with the Dow Jones and Nasdaq also experiencing notable increases. This bullish trend was supported by robust quarterly profits from major banks like JPMorgan and Goldman Sachs, indicating a healthy financial sector.

Investors welcomed the announcement of a ceasefire between Israel and Hamas, potentially ending the prolonged Gaza conflict. This geopolitical development, coupled with positive economic indicators, contributed to the optimistic market outlook.

(With inputs from agencies.)