Wall Street Bounces Back as Inflation Eases: Top ETF Performers

New York: Wall Street had a great day, bouncing back on the news that inflation is cooling off. All three major indexes saw their biggest gains since early November. The Dow rose 1.6%, the S&P 500 climbed 1.8%, and the Nasdaq jumped 2.4%.

With this positive momentum, several ETFs stood out, gaining significantly. The Valkyrie Bitcoin Miners ETF, Simplify Volt TSLA Revolution ETF, Global X Blockchain ETF, Invesco KBW Bank ETF, and Sprott Lithium Miners ETF all saw impressive increases.

Inflation data showed a slight easing in December, which is good news for the economy. Core prices rose just 0.2% from the previous month, down from 0.3% in November. Yearly core inflation also dropped to 3.2%. This has traders thinking the Fed might cut interest rates sooner than expected.

Bank earnings also played a big role in boosting investor sentiment. Big names like JPMorgan Chase and Goldman Sachs reported strong profits, thanks to a revival in deal-making and investment banking. Other banks like BlackRock and Wells Fargo also posted solid results.

The ETFs that gained the most included the Valkyrie Bitcoin Miners ETF, which is focused on companies involved in bitcoin mining, and the Simplify Volt TSLA Revolution ETF, which aims to capitalize on Tesla’s stock movements. The Global X Blockchain ETF, Invesco KBW Bank ETF, and Sprott Lithium Miners ETF also performed well, reflecting the growing interest in these sectors.

Overall, it was a day of good news for investors, with optimism in the air as inflation cools and bank earnings impress.