S&P 500 and Dow hit record highs on strong bank earnings, Nasdaq fell slightly

From Google: 2024-10-11 18:55:24

The S&P 500 and Dow Jones hit record highs thanks to strong bank earnings, with the latter gaining 318.19 points. Wells Fargo and JPMorgan Chase both reported better-than-expected profits, leading to bank stocks rising. The S&P 500 rose by 45.76 points, with the technology sector also performing well. On the other hand, the Nasdaq Composite fell slightly as investors rotated out of growth stocks. Jobless claims in the US also decreased to 473,000, signaling a positive trend in the labor market amidst the ongoing economic recovery.



Read more at Google: S&P 500, Dow hit records, boosted by bank earnings surprise – Reuters