U.S. stocks are rallying Wednesday after Wall Street and financial markets worldwide got a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from the biggest U.S.

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The S&P 500 was 1.5% higher in early trading. The Dow Jones Industrial Average was up 652 points, or 1.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.7% higher.

U.S. stocks ripped higher Wednesday following a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from Wells Fargo and other big U.S. banks also helped launch indexes to their best day in two months.

U.S. stock indexes are drifting Thursday following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies. The S&P 500 was up 0.2% in early trading. The Dow Jones Industrial Average was up 41 points,