• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Bank results lift stocks; Dow up for seventh straight session
Business

Bank results lift stocks; Dow up for seventh straight session

July 19, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • Bank of America, Morgan Stanley report strong Q2 earnings
  • Dow notches seven-session streak of gains
  • June retail sales up 0.2% vs est. of 0.5%
  • Dow up 1.06%, S&P 500 up 0.71%, Nasdaq up 0.76%

NEW YORK, July 18 (Reuters) – U.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years.

Morgan Stanley (MS.N) shares jumped 6.45%, their biggest one-day percentage climb since Nov. 9, 2020 after topping expectations as growth in the bank’s wealth management business offset lower trading revenue.

Reuters Graphics

Bank of America (BAC.N) gained 4.42% after its profit beat expectations by earning more from customers’ loan payments, while investment banking and trading fared better than expected.

Shares of other banks also rose on Tuesday, with Bank of New York Mellon (BK.N) up 4.11%, and PNC Financial (PNC.N) up 2.51%, after they reported quarterly results.

“They are surprising. This morning all the banks reported, all beat earnings expectations and all except PNC beat revenue expectations,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.

“I always hate to extrapolate the big bank earnings, which are always the first ones, to the rest of the market. We have a lot more coming here but earnings estimates have been brought down and banks are able to surprise.”

The Dow Jones Industrial Average (.DJI) rose 366.58 points, or 1.06%, to 34,951.93, the S&P 500 (.SPX) gained 32.19 points, or 0.71%, at 4,554.98 and the Nasdaq Composite (.IXIC) added 108.69 points, or 0.76%, at 14,353.64.

See also  WH tries to spin Chinese bank wires sent to Joe Biden's Delaware address — but Hunter's plea deal gets in the way

The Dow registered its seventh-straight session of gains, its longest streak since March 2021, and closed at its highest level since April 2022.

Some of the largest U.S. banks such as JP Morgan (JPM.N) last week cited a profit boost from higher rates and indicated the economy remained resilient.

The S&P 500 banks index (.SPXBK) ended 1.90% firmer at 317.02, its highest closing level since March 8, when the start of a mini-bank crisis created a sharp sell-off in the sector. The KBW regional banking index (.KRX) also climbed 4.10% to 96.25 , its highest close since March 21.

Charles Schwab (SCHW.N) jumped 12.57%, the best performer on the S&P 500, after the brokerage posted a smaller-than-expected drop in quarterly profit.

Technology (.SPLRCT), up 1.26%, was the best performing sector, as Microsoft (MSFT.O) shares gained 3.98 to a record close of $359.49 after announcing it would charge more to access new artificial intelligence features in its Office software.

Equities have rallied recently, with the S&P 500 and Nasdaq climbing to 15-month highs on data showing economic resilience, cooling inflation and a solid labor market.

Data released early on Tuesday showed retail sales rose less than expected in June on a decline in building materials and service station receipts, although consumers boosted or maintained their spending levels. In addition, production at domestic factories unexpectedly fell during the month, but rebounded in the second quarter as motor vehicle output accelerated.

UnitedHealth (UNH.N) also bolstered the Dow as it climbed 3.29%, providing about 105 points to the upside, after Bernstein upgraded the health insurer to an “outperform” rating.

See also  Fire breaks out at Dow Louisiana facility

Volume on U.S. exchanges was 10.54 billion shares, compared with the 10.58 billion average for the full session over the last 20 trading days.

Advancing issues outnumbered decliners on the NYSE by a 2.76-to-1 ratio; on Nasdaq, a 1.62-to-1 ratio favored advancers.

The S&P 500 posted 53 new 52-week highs and three new lows; the Nasdaq Composite recorded 157 new highs and 75 new lows.

Reporting by Chuck Mikolajczak; Editing by Richard Chang

: .

Bank Dow Lift results Session Seventh Stocks straight
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Australian Police Charge Ex-Childcare Worker with Sex Abuse of 91 Children

August 4, 2023

Video Shows Britney Spears Inadvertently Struck Herself in the Face During Altercation with Victor Wembanyama’s Security Detail

July 8, 2023

BBC forced to apologize after transgender guest goes on unhinged rant against JK Rowling: ‘We should have challenged the claims’

February 16, 2023

Biden’s White House won’t decouple Ukraine aid from US disaster relief

September 10, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Texas School Board Rejects Attempt to Allow Boys in Girls Choir | The Gateway Pundit | by Margaret Flavin

July 13, 2023

Columnists call for Biden to drop Harris, pick new running mate

September 14, 2023

Bet $1, Get $200 in Bonus Bets for UFC 288 and NBA

May 6, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.