Stocks extended a recent upswing on Tuesday as investors absorbed a stream of quarterly earnings, with Bank of America (BAC) and Morgan Stanley (MS) among those reporting.
In midday trading, the Dow Jones Industrial Average (^DJI) led the way, up more than 350 points, or over 1%. The tech-heavy Nasdaq (^IXIC) reversed early losses to trade up around 0.4%. The S&P 500 (^GSPC) was up about 0.5%.
Bank of America shares gained more than 4% after profits jumped in the second quarter, while Morgan Stanley's stock climbed over 6% in the wake of its results.
Retail sales rose in June but undershot expectations, putting the health of the economy under the spotlight again. Investors have returned to weighing the risk of recession versus the chance of a soft landing in the wake of the Federal Reserve's interest-rate hikes.
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July 18, 2023 at 11:32PM
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Bank stocks lead Dow higher as stocks extend upswing: Stock market news today - Yahoo Finance
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