Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.4%), and DJIA (flat) sit a touch off of session highs with half an hour left in today's session. 

After a slow start to the session, strength has steadily broadened, culminating in a new record high for the S&P 500. 

Attention now turns to tomorrow's 8:30 a.m. ET release of the December CPI (Briefing.com consensus 0.3%) and Core CPI (Briefing.com consensus 0.3%), widely viewed as one of the most consequential macro events of the year. While the market does not anticipate Fed easing for several months, a hotter-than-expected CPI print could further delay expectations for the next rate cut and cloud the growth outlook. A downside surprise, by contrast, would provide another catalyst for a market that has opened the year pushing to fresh record highs.

Additionally, JPMorgan Chase (JPM 323.37, -5.82, -1.77%) is set to kick off the big banks' earnings this week. The company has delivered seven consecutive EPS beats of at least $0.22, though last quarter's upside was its smallest since a miss in Q4 FY23.  Investors will closely monitor CEO Jamie Dimon's outlook on the U.S. economy heading into 2026, particularly labor trends, credit quality, and any commentary on President Trump's proposal to cap credit card interest rates at 10%.