Shares of Home Depot (NYSE: HD) were moving higher today after the core Consumer Price Index (CPI) was lower than expected for December. The news lifted stocks broadly, as falling inflation is good for the economy on a number of fronts,

Gas prices rose sharply, but investors homed in on a small decline in the core CPI.

US stocks jumped on Wednesday after consumer price data showed inflation continues to slow. Strong bank earnings also helped lift sentiment.

Stocks rallied on January 15, following an encouraging consumer price index (CPI) report that indicated a slowdown in core inflation and strong earnings from major U.S. banks.

U.S. consumer prices increased by the most in nine months in December amid higher costs for energy goods, pointing to still-elevated inflation that aligns with the Federal Reserve's projections for fewer interest rate cuts this year.

Wall Street's main indexes fell on Tuesday as investors turned their attention to upcoming inflation data and quarterly earnings reports, which are expected to provide insights into the health of the U.

The 10-year Treasury yield was slightly lower Wednesday morning ahead of the release of key consumer inflation data. The 10-year yield was around 2 basis points lower at 4.771%, further pulling back from the 14-month high reached on Monday. The yield on the 2-year Treasury was 1 basis point lower at 4.354%.

The consumer price index, the cost shoppers pay for a wide range of goods and services, rose faster than expected in December but core items did not make the same jump, according to the latest report

Investors looked ahead to the release of December’s CPI data and the start of the fourth-quarter earnings season.

Long-term inflation expectations among U.S. consumers have surged to their highest levels since the summer of 2008, raising fresh concerns over the Federal Reserve's ability to rein in price pressures.

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