U.S. stocks are rallying Wednesday after Wall Street and financial markets worldwide got a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from the biggest U.S.

BMO Capital Markets forecasts the S&P 500 will reach 6,700, reflecting a gain of 13.2%. Chief investment strategist Brian Belski said he and his team "remain resolutely bullish," but expect "performance and fundamentals will more closely match the historical norms -- namely, in the high-single digit/low-double-digit percentage range in 2025."

Asian shares are mixed after gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.