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.

Investors are gearing up for December's crucial consumer price index to determine the direction of Fed policy.

Investors are weighing what a reported gradual rollout of Trump tariff hikes could mean for inflation and the Fed.

U.S. equity futures nudged higher in early Wednesday trading, while the dollar eased and Treasury yields steadied, as investors braced for a crucial December inflation report that could define the market's direction over the coming weeks.

Asian shares are mixed after gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.