Stocks, including Dow, S&P 500, and Nasdaq, finish week higher; Bank of New York Mellon hits all-time high.

From Dotdash: 2024-07-12 17:53:32

Major indexes, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, showed slight gains for the week after a recovery Friday from technology stock selloffs. Bank of New York Mellon (BNY) stocks hit an all-time high, up more than 5%, following better-than-expected results and a dividend raise, with earnings per share (EPS) of $1.51. Novo Nordisk shares rose after a study linked its Ozempic diabetes drug to lower rates of dementia. Wells Fargo led S&P 500 decliners with a second-quarter net interest income slump and a 9% year-over-year fall to $11.9 billion. The Russell 2000 rose as investors rotated from mega-cap tech stocks with potential Federal Reserve rate cuts. Apple shares remained in an uptrend despite a Thursday pullback, with support at levels including $220, $197, and $190. Indices futures were near unchanged.



Read more at Dotdash: Stocks Close Higher to Finish Week With Gains; Dow Above 40K