After a rocky start to 2025, Wall Street is regaining its swing.
The three major U.S. stock averages are on pace for their first weekly gain of the year. The S & P 500 and Dow Jones Industrial Average are up 1.9% and 2.9%, respectively, on course for their biggest weekly advance since the U.S. presidential election. The Nasdaq Composite is up 0.9%, headed for its biggest weekly gain since early December. Two catalysts drove the action this week: cooling inflation data and strong bank earnings.
Both Morgan Stanley and Goldman got a boost from strong trading revenue, while JPMorgan posted a record quarter . "This is a good week for markets, benefiting from positive fundamental surprise and signs of market capitulation," wrote longtime market bull and Fundstrat head of research Tom Lee. "Overall, we believe this is encouraging and enough that we expect some investors to "dip a toe" and add risk, even if market technicals are not fully confirming.
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