Pre-Market Report – Thursday 16 January: US markets rally on benign CPI | Banks deliver

The Dow Jones Industrial Average advanced 703.27 points, or 1.65%, to close at 43,221.55. The S&P 500 climbed 1.83% to 5,949.91, and the Nasdaq Composite rallied 2.45% to 19,511.23. It was the best day for all three major averages since Nov. 6. December’s consumer price index showed that core inflation, which excludes food and energy, rose 3.2%.The 10-year Treasury yield sharply dropped on the back of the CPI report and was last down roughly 13 basis points at about 4.65%. Growth stocks such as Tesla and Nvidia popped around 8% and 3%, respectively, as Treasury yields fell.Ceasefire in the Middle East but oil up 3%. Bank results very positive in US.ASX SPI up 104 – RIO Production ReportWhy not sign up for a free trial? Get access to expert market insights and manage your investments with confidence. Ready to invest in yourself? Join the Marcus Today community.