LIVE MARKETS-US stocks wrapped in green tape

ReutersJan 15, 2025 3:15 PM

Main U.S. indexes advance; Nasdaq out front, rallies >2%

All S&P 500 sectors green; Cons Disc leads

Euro STOXX 600 index up >1%

Dollar down; gold edges up; crude up ~2%; bitcoin up >3%

U.S. 10-Year Treasury yield slides to ~4.66%

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U.S. STOCKS WRAPPED IN GREEN TAPE

Wall Street's main indexes are higher early on Wednesday, as data showed core inflation rose less than expected in December and investors cheered a strong batch of quarterly results from the biggest U.S. banks.

All 11 S&P 500 sectors are green with four postings gains of more than 2%. Consumer discretionary .SPLRCD is leading the charge.

Under the surface bank stocks are especially strong with the S&P 500 banks index .SPXBK, and the KBW regional banking index .KRX both up more than 3%.

Meanwhile, with the rally, traders are assessing the "tape." After ending at -2,050 on Tuesday, the NYSE McClellan Summation, a breadth/momentum measure, is rising to -1,920 in early trade, putting it just shy of its descending 10-day moving average, which now resides around -1,783.

So far, the NYSE Summation is turning up after a near touch of the support line from its October 2022 trough, which is now around -2,115.

Here is a snapshot of where markets stood just shortly before 1000 EST:

(Terence Gabriel)

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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

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