Stock futures gained on Wednesday after earnings from major banks topped expectations ahead of the release of December’s consumer price index, a key gauge of inflation. Futures tied to the Dow Jones Industrial Average rose 203 points, or 0.5%, increasing as the earnings results hit the tape. S&P 500 futures and Nasdaq 100 futures climbed 0.4% each. Fourth-quarter earnings reporting season got off to a positive start Wednesday. JPMorgan Chase shares jumped nearly 3% after the bank reported EPS of $4.81 for the last period, much higher than the $4.11 estimate from analysts polled by LSEG. Revenue also topped expectations. Fixed income trading and investment banking drove the results. Shares of Goldman Sachs added 1.5% after the bank posted a top- and bottom-line beat in the previous quarter. The investment bank’s earnings of $11.95 per share on $13.87 billion topped forecasts calling for $8.22 EPS and revenues of $12.39 billion, per LSEG. Wells Fargo shares climbed 3% after the bank said net interest income would be 1% to 3% higher in 2025. “We do think earnings will be stronger,” said Jay Hatfield, founder of Infrastructure Capital Advisors. The December consumer price index report is set for release at 8:30 a.m. ET. Economists polled by Dow Jones see headline CPI rising 0.3% on a monthly basis and gaining 2.9% over the prior 12 months. The inflation reading will be a consideration for the Federal Reserve as it makes its interest rate decision later this month. The report comes a day after the government unveiled lighter-than-expected wholesale inflation figures. Stocks posted slight gains on the back of that data on Tuesday. The 10-year Treasury yield was slightly lower Wednesday morning ahead of the release of key consumer inflation data. The 10-year yield was around 3 basis points lower at 4.76%, further pulling back from the 14-month high reached on Monday. The yield on the 2-year Treasury was 1 basis point lower at 4.352%. Asia-Pacific markets mostly rose Tuesday after a mixed session on Wall Street that saw the Dow soar and the Nasdaq slip as investors rotated out of tech stocks. Hong Kong’s Hang Seng index was up 1.9% in its final hour, while mainland China’s CSI 300 climbed 2.63% to end the day at 3,820.53. This is its largest one-day gain since Nov. 7. Japan’s markets were the only outlier, with the Nikkei 225 dipping 1.83% to close at 38,474.30. The Topix fell 1.16% to 2,682.58. Both indexes extended their four-day losing streak. Japan’s 40-year government bond yield rose to an intraday high of 2.774, its highest on record since 2007, LSEG data showed. South Korea’s Kospi closed up 0.31% to 2,497.40 while the small-cap Kosdaq added 1.39% to end the day at 718.04. Australia’s S&P/ASX 200 closed 0.48% higher at 8,231, breaking a three-day losing streak. Oil prices crept higher on Wednesday as the market focused on potential supply disruptions from sanctions on Russian tankers, though gains were tempered by a lack of clarity on their impact. Brent crude futures rose 29 cents, or 0.36%, to $80.21 a barrel. U.S. West Texas Intermediate crude was up 33 cents, or 0.43%, at $77.83. Gold prices firmed on Wednesday as the U.S. dollar and Treasury yields retreated, while market participants awaited U.S. inflation data for clues on the Federal Reserve’s interest rate strategy. Spot gold gained 0.4% to $2,687.59 per ounce. U.S. gold futures were up more than 1% at $2,710.00. The dollar index eased 0.2%, making bullion more attractive for other currency holders. The benchmark 10-year Treasury yields also slipped.