Stocks Climb After Earnings Reports as Banks Rally: Markets Wrap swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
S&P 500 rises after earnings reports; Nasdaq falls
Rita Nazareth and Vildana Hajric, Bloomberg News
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Stocks rose for a third straight day, with investors assessing corporate earnings. Treasuries retreated. Oil climbed.
The S&P 500 advanced at a slower pace relative to the surge of the past two sessions, with energy and financial shares outpacing tech even after Googleâs parent Alphabet Inc. hit a record on stellar results. The Nasdaq 100 fell, led by Amazon.com Inc. Banks climbed as JPMorgan Chase & Co. and Morgan Stanley issued bullish calls on the industry. GameStop Corp., the poster child for Redditors looking to squeeze short sellers, and movie-theater chain AMC Entertainment Holdings Inc. rebounded following Tuesdayâs plunge. Drugmaker Biogen Inc. slumped after disappointing forecasts.
Stocks posted a back-to-back rally as the trading frenzy that fueled a surge in heavily shorted shares crumbled. Investors also sifted through a batch of corporate earnings.
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