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SEA OF GREEN AS CPI ASSUAGES FEARS OF INFLATION RE-ACCELERATION

U.S. stocks ended strong on Wednesday with all major indexes and almost all S&P 500 subsectors green on the day after December’s consumer price inflation report eased concerns that inflation may be re-accelerating.

Equity markets have been hurt and U.S. Treasury yields have surged on fears that a renewed uptick in price pressures will block the Federal Reserve from cutting rates again this year, and potentially put a rate hike on the table.

“Today’s inflation print should be tailwind to risk assets by removing one of the bricks in the wall of worry the market is facing,” Jeff Schulze, Head of Economic and Market Strategy at ClearBridge Investments, said in a note.

A slew of big name U.S. banks including Goldman Sachs GS.N reporting upbeat results also boosted the market, while a ceasefire deal between Israel and Hamas further helped market sentiment.

The Nasdaq Composite .IXIC posted a 2.45% gain, while the S&P 500 .SPX rose 1.83% and the Dow Jones Industrial Average .DJI increased by 1.65%. Consumer discretionary .SPLRCD was the best performing subsector, up 3%, while consumer staples .SPLRCS was the sole loser.

Here is Wednesday’s closing market snapshot:

(Karen Brettell)

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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

ESTIMATED PROFIT GROWTH FOR US FINANCIALS MOVES UP SHARPLY - CLICK HERE

SELLOFF IN CONSUMER STAPLES PRESENTS BUYING OPPORTUNITY - SENTIMENTRADER'S GOEPFERT - CLICK HERE

AFTER CPI, ARE STOCKS A BUY? - CLICK HERE

BOFA RAISES TREASURY YIELDS FORECAST, STILL SEES 10-YEAR UNDER 5% - CLICK HERE

PRICE POINTS: CPI, MORTGAGES AND EMPIRE STATE - CLICK HERE

U.S. STOCKS WRAPPED IN GREEN TAPE - CLICK HERE

U.S. STOCK FUTURES SURGE, YIELDS SLIDE, AFTER BROADLY IN-LINE CPI - CLICK HERE

BANK OF JAPAN HIKE IN PLAY NEXT WEEK - CLICK HERE

HEALTHCARE STANDS OUT AS US EARNINGS POTENTIAL TO BROADEN - SAXO - CLICK HERE

UK CPI: JUST WHAT THE DOCTOR ORDERED - CLICK HERE

UK STOCKS OUTSHINE IN EUROPE AS INFLATION SLOWS - CLICK HERE

EUROPE BEFORE THE BELL: FTSE FUTURES OUTPERFORM ON SOFT INFLATION DATA - CLICK HERE

INFLATION DUO TAKES CENTRE STAGE - CLICK HERE