Overview
- December CPI rose 2.7% year over year with core at 2.6%, reflecting monthly gains of 0.3% for headline prices and 0.2% for core, according to the Bureau of Labor Statistics.
- The S&P 500 fell 0.2%, the Dow dropped 0.8%, and the Nasdaq slipped 0.1% as major indexes pulled back from recent highs.
- JPMorgan beat earnings and revenue forecasts but recorded a $2.2 billion loan-loss charge tied to the Apple Card portfolio, and its shares weighed on broader indexes.
- Delta Air Lines posted mixed results, with a revenue miss and a 2026 profit forecast midpoint below expectations, while energy and precious metals advanced as oil climbed roughly 2% to 2.6% and gold and silver hit intraday highs.
- LSEG pricing pointed to at least two 25-basis-point Fed cuts between June and December 2026 as the 10-year Treasury hovered near 4.16% and the 2-year near 3.52%, and the NFIB optimism index rose to 99.5.