All three major indexes enjoyed healthy session wins, following this morning’s cooler-than-expected consumer price index (CPI) reading. Bank earnings have been all the rage as well, with numerous big names sharing upbeat results for the fourth quarter. Today’s pop helped the tech-heavy Nasdaq snap its five-day skid. Plus, the S&P 500 and Dow each marked a third-straight gain with a triple-digit pop, logging their best single-day percentage gains since Nov. 6.
Oil Attempts Rebound; Inflation Update Drags Dollar
Cold fronts, a domestic decline in crude, and monthly forecasts from the Organization of the Petroleum Exporting Countries (OPEC) and International Energy Agency (EIA) sent oil higher after Tuesday’s drop. February-dated West Texas Intermediate (WTI) crude added $1.45, or 1.9%, to settle at $78.95 per barrel.Another day of inflation data weakening the U.S. dollar sent gold futures higher. Gold for January delivery added 1.3% to settle at $2,717.80 an ounce.More By This Author:Nasdaq Extends Losing Streak As Traders Eye CPIStocks Moving Lower Despite Encouraging Inflation DataS&P 500 Bounces Back As Traders Offload Tech
