Wall Street Rises 0.7% on Cooler PPI

Wall Street indices rose, with the S&P 500 up 0.7% to 6,933, Nasdaq up 1.2% to 23,459, and Dow up 0.4% to 48,399.
U.S. March producer price index increased 0.5% month‑on‑month and 4.0% year‑on‑year, missing consensus estimates of 1.1% and 4.6%.
Major banks reported mixed results: JPMorgan and Citi beat forecasts, while Wells Fargo missed revenue expectations and saw its stock fall 5.5%.
Oil prices fell, Brent at $95.47 (-3.9%) and WTI at $93.17 (-6%); Globalstar surged 9.8% after an $11.57 bn Amazon acquisition deal.