U.S. stocks are ripping higher Wednesday after getting a shot of adrenaline from an encouraging update on U.S. inflation. Strong profit reports from Wells Fargo and other big U.S. banks are also helping to launch indexes toward their best day in two months.

U.S. stock futures were rising on Wednesday thanks to stellar earnings from some of Wall Street’s biggest names. But monthly consumer price inflation data due later could dampen the mood. The Bureau o