Member-only story
WEEKLY BUSINESS ROUNDUP
Global Business Week: The Top 50 Most Profitable Companies in 2024
The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics
Wall Street capped off the week with its strongest performance since the post-election rally in November 2024. Following a volatile December and a rocky start to the new year, a surge in investor optimism propelled markets higher over the past few days. Wednesday witnessed a particularly strong rally, with all three major indices posting their largest intraday gains since November 6, 2024. The bond market also experienced a much-needed reprieve.
This surge was primarily fueled by the release of the core Consumer Price Index (CPI) data for December 2024, which came in lower than expected. This favorable inflation data strengthened expectations that the Federal Reserve would continue to ease its monetary policy. Sentiment also received a boost from a strong start to the earnings season.
Major banks, including JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Bank of America, and Morgan Stanley, all reported better-than-expected quarterly results driven by robust investment management activities and trading gains, reflecting a highly successful year for the financial…