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.

He lamented that the "rule of law has completely collapsed in this country" but said he was complying with the detention warrant.

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.

The major U.S. index futures are currently pointing to a sharply higher open on Wednesday, with stocks likely to show a strong move

Wall Street pointed higher before the opening bell on Monday, taking back some of its post-Christmas losses as markets prepare to kick off the first full trading week of 2025.