US stocks surged higher Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks.

Profits at some of the biggest U.S. lenders rose in the fourth quarter as dealmaking picked up and trading was boosted by strong equity markets, sparking a rally in banking stocks on Wednesday.

Wall Street banks JPMorgan Chase, Goldman Sachs and Citigroup notched up strong rises in profits at the end of last year, powered by a boom in trading and dealmaking. JPMorgan’s net earnings rose 50 per cent per cent to $14bn,

Asian shares are mixed after gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.

Wall Street's main indexes soared on Wednesday, with the benchmark S&P 500 touching a one-week high, driven by lower-than-expected December core inflation data and robust quarterly earnings from major U.

U.S. stocks are rallying Wednesday after Wall Street and financial markets worldwide got a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from the biggest U.S.

By Johann M Cherian and Sukriti Gupta (Reuters) -Strong quarterly results from Wall Street's biggest banks pushed U.S. stock index futures higher on Wednesday as investors awaited a crucial inflation report due later in the day.

Stock markets surged on Wednesday, buoyed by robust US bank earnings and encouraging inflation data from the United States and Britain.

U.S. stocks are ripping higher an encouraging update on U.S. inflation. The S&P 500 jumped 1.5% Wednesday. The Dow Jones Industrial Average climbed 584 points, and the Nasdaq composite gained