US stocks rallied Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks. The Dow surged around 775 points, or 1.82%, in afternoon trading. The S&P 500 rose 1.

Asian Shares Advance After Inflation Data Drives a Rally on Wall Street TOKYO (AP) — Asian shares mostly rose Thursday, following a rally on Wall Street driven by encouraging update on U.S. inflation.

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,