S&P 500 Drops from Record High as Bank Shares Helped Prevent Stock Market Freefall
5 hours ago by Benjamin Godfrey · 3 min read
Photo: Depositphotos
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The general losses in the stock market were cushioned by bank shares after their better-than-expected earnings releases.
The United States stock market on Wednesday recorded a mixed session result as gains in bank shares helped prevent a broader market freefall. The S&P 500 Index (INDEXSP: .INX) dropped 0.41% lower to 4,124.66 after hitting a new high in volatile trading. The Dow Jones Industrial Average (INDEXDJX: .DJI) added 53.62 points atop a 0.16% gain to close the session at 33,730.89. The Nasdaq Composite (INDEXNASDAQ: .IXIC) pared off some of its gains from earlier in the week, dropping 0.99% to 13,857.84.
U.S. stocks are rallying toward records on Thursday after a suite of encouraging data showed how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fatter corporate profits are getting.
ABC News
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Global stocks higher after Wall St retreats from record
Major global stock markets are mostly higher after Wall Street retreated from a record high as major banks announced strong profits
By JOE McDONALD AP Business Writer
April 15, 2021, 9:30 AM
• 3 min read
The Associated Press
A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Thursday, April 15, 2021. Asian stock markets were mixed Thursday after Wall Street retreated from a record high as major banks reported strong profits at the start of U.S. earnings season. (AP Photo/Lee Jin-man)