Markets rise, consumer prices jump, COVID-19 cases surge

Markets rose on Wednesday.

The S&P 500 rose 0.3 percent, the STOXX Europe 600 rose 0.7 percent and the Nikkei 225 surged 1.9 percent.

Stocks rose despite the US reporting that consumer prices rose 7 percent in December from the previous year, the biggest jump since 1982.

Investors also shrugged off news of the continuing surge in COVID-19 cases, with the US reporting a 73 percent jump in cases for the week through Sunday and the world as a whole seeing a 55 percent increase.

“This is off the charts,” said Maria Van Kerkhove, WHO’s technical lead on Covid-19. “The sheer volume of cases is putting a burden on health-care systems.”