By Caitlin McCabe
A rocky quarter from JPMorgan Chase weighed on the Dow Jones Industrial Average, while investors welcomed a slightly softer than expected inflation reading.
Headline prices rose by 2.7% from a year earlier, according to the consumer-price index from December. That was in line with expectations and November's rate. Core CPI, which excludes food and energy prices, also held at the prior month's rate, rather than accelerating as forecast. Treasury yields slipped.
The Dow lagged behind other stock indexes, falling 0.8%, due in part to declines in JPMorgan and Visa shares. JPMorgan posted a 7% drop in quarterly profit on revenue that missed forecasts. Its shares fell 4%.
Investor anxiety about the investigation into Federal Reserve Chair Jerome Powell appeared to abate for now, with the dollar unwinding Monday's decline. Global central bankers and JPMorgan Chief Executive Jamie Dimon defended Powell and the Fed's independence.
Oil prices extended gains, with U.S. crude futures finishing 2.8% higher. President Trump encouraged Iranians to keep protesting and said "help is on its way." On Monday he moved to impose a 25% tariff on countries doing business with Iran.
In other markets, Japan's Nikkei 225 surged to a record, while the yen and government bonds fell, on rising expectations of a snap election next month.
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(END) Dow Jones Newswires
January 13, 2026 16:10 ET (21:10 GMT)
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