12:24 PM EST, 01/15/2025 (MT Newswires) -- US equity indexes were up in midday trading Wednesday as core inflation rates eased, putting monetary policy hawks on the backfoot, and large-cap banks kicked off the Q4 earnings season on a positive note.

The Nasdaq Composite jumped 2% to 19,420.4, with the S&P 500 up 1.3% to 5,919.5 and the Dow Jones Industrial Average 1.3% higher at 43,067.1. All sectors rose intraday, with consumer discretionary, financials, and communication services among the top gainers.

The US seasonally adjusted core consumer price index grew by 0.2%, below the consensus estimate for a 0.3% increase in a survey compiled by Bloomberg, and following a 0.3% gain in November, according to data released Wednesday by the Bureau of Labor Statistics. The CPI climbed 0.4% in December, as expected for headline inflation in the survey, and a 0.3% increase in November.

Year-over-year core CPI growth slowed to 3.2% in December from 3.3%, while the overall CPI came in at 2.9% versus 2.7% in November.

US Treasury yields fell on the back of the easing in core inflation rates, with the two-year rate down 8.9 basis points to 4.28%. The 10-year slumped 12.1 basis points to 4.67%.

In company news, Goldman Sachs ( GS ) shares were up 5.3% intraday, among the top gainers on the S&P 500 and the Dow, after the company reported higher Q4 earnings and net revenue. BlackRock ( BLK ) climbed 4% intraday after the company reported year-over-year gains in Q4 adjusted earnings and sales. Citigroup ( C ) swung to Q4 profit as revenue jumped from a year ago, helping push the lender's shares up by 7.6% intraday.

Meanwhile, Intuitive (ISRG) advanced 7.1% intraday, the top gainer on the Nasdaq, after reporting preliminary Q4 revenue of $2.41 billion, compared with $1.93 billion a year earlier. Analysts expected $2.2 billion for the quarter ended Dec. 31.

West Texas Intermediate crude oil futures jumped 2.6% to $79.51 a barrel.