U.S. stock markets experienced a significant surge following a positive report on inflation.
On Wednesday, the S&P 500 soared by 1.8%, marking its strongest performance in two months.
The Dow Jones Industrial Average increased by 1.7%, while the Nasdaq composite rose by 2.5%.

The uptick in these indexes was bolstered by robust earnings from major U.S. banks, including Wells Fargo, Citigroup, and Goldman Sachs, which played a crucial role in driving the markets forward.
In the bond market, Treasury yields declined as investors speculated that the inflation data released on Wednesday could lead the Federal Reserve to consider further interest rate cuts later this year.

On the stock performance front, the figures for Wednesday were as follows:
The S&P 500 climbed 107 points, or 1.8%, settling at 5,949.91.
The Dow Jones Industrial Average gained 703.27 points, a 1.7% increase to reach 43,221.55.
The Nasdaq composite experienced a rise of 466.84 points, or 2.5%, bringing it to a total of 19,511.23.
Additionally, the Russell 2000 index, which tracks smaller companies, jumped 44.06 points, or 2%, to end the day at 2,263.29.

Looking at weekly performance, the S&P 500 has seen an increase of 122.87 points, or 2.1%.
The Dow has surged by 1,283.10 points, equating to a 3.1% rise.
Meanwhile, the Nasdaq gained 349.61 points, marking a 1.8% increase, and the Russell 2000 observed an upswing of 74.06 points, or 3.4%.

For the year-to-date statistics, the S&P 500 is up by 68.28 points, representing a 1.2% increase.
The Dow has advanced by 677.33 points, which is a 1.6% gain.
The Nasdaq has gone up by 200.44 points, or 1%, while the Russell 2000 has made a modest increase of 33.14 points, translating to a 1.5% rise.