Wall Street Breakfast Inflation data invigorates stocks, bonds
Jan 15, 2025
The latest consumer price index has sent stocks soaring, as optimism grows about potential rate cuts from the Federal Reserve. Major banks like Wells Fargo and Citi reported impressive earnings, boosting investor confidence. In a tech twist, Nvidia is gearing up for Quantum Day, highlighting advancements in quantum computing. Meanwhile, the Momentum Factor ETF is surging, yet it remains undervalued, creating intriguing opportunities for savvy investors.
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Market Reacts to CPI Data
- Core CPI rose less than expected, causing a positive market reaction with rising stocks and falling treasury yields.
- The market's data-dependency mirrors the Fed's, suggesting that macro factors won't derail strong trends like AI.
Big Bank Earnings
- Big bank earnings impressed investors, with JPMorgan Chase, Citigroup, Goldman Sachs, and Wells Fargo reporting results.
- Positive performance was driven by factors like strong net interest income and rebounding investment banking fees.
NVIDIA's Quantum Day
- NVIDIA's annual GTC event will include a Quantum Day, featuring CEO Jensen Huang.
- They will discuss the latest in quantum computing and its potential applications, with representatives from various quantum companies attending.