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January 16, 2025

Wall Street rips higher after inflation data

By STAN CHOE
AP Business Writer

NEW YORK — U.S. stocks ripped higher Wednesday following a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from Wells Fargo and other big U.S. banks also helped launch indexes to their best day in two months.

The S&P 500 jumped 1.8%. The Dow Jones Industrial Average rallied 703 points, or 1.7%, and the Nasdaq composite leaped 2.5%.


 
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