Another engine of value creation for Wall Street that has been slow in recent years is the IPO market — which is also set to pick up.

Wall Street has been seesawing for weeks as traders tear up their forecasts for what the Fed will do with interest rates in 2025. A further easing would boost the U.S. economy and prices for investments, but it could also give inflation more fuel.

Bank of America made $6.7 billion of profit in the fourth quarter of 2024, more than doubling earnings from a year earlier and beating analysts’ estimates of $6 billion. The second-largest U.S. lender by assets posted per-share earnings of 82 cents,

US stocks surged higher Wednesday after an encouraging inflation report and blockbuster profits for some of America’s biggest banks.

U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts.

NEW YORK >> U.S. stocks surged today, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major U.