⚠️BREAKING: *WALL ST. RALLIES SECOND DAY IN A ROW AS GOLDMAN, J&J REPORT; NETFLIX DUE - 🇺🇸🇺🇸
- U.S. stock indexes rose on Tuesday as strong results from Goldman Sachs calmed worries of a substantial hit to profit from rising interest rates, but a rise in government bond yields pushed megacap growth stocks lower.) gained 2.5% after reporting a smaller-than-expected drop in quarterly profit due to a slowdown in investment banking, which was cushioned by a boost in net interest income.
The investment bank, which is reorganizing its business into three units, wrapped up earnings from big U.S. banks on a largely positive note, even though several lenders raised the loan loss provisions in anticipation of troubled times ahead. "The markets are breathing a sigh of relief that earnings are coming in better than expected, particularly the banks and the financials, which have been very strong, especially versus expectations," said David Sadkin, president at Bel Air Investment Advisors.
"But the Fed is still hiking, we're still in the tightening cycle. If I had to guess, this is more of a short-term bear market rally, and we'll see more volatility in the weeks ahead." The benchmark 10-year Treasury note reversed early declines to rise for the fourth straight day, while big technology and growth names like Apple Inc (NASDAQ:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall St set to jump at open as Goldman, J&J results lift earnings mood By Reuters*U.S. STOCK FUTURES EXTEND RALLY ON EARNINGS OPTIMISM; S&P 500 FUTURES RISE 1.5% - 🇺🇸🇺🇸
Read more »
Netflix Earnings Preview: Wall Street Focus on Ads May Outweigh Subscriber AddsAhead of its third quarter disclosure on Oct. 18, analysts weigh the streaming giant's forecast of 1 million net sub additions with the potential upside and momentum of the service's ad-tier launch.
Read more »
She-Hulk Episode 9 Review: Time To Smash The Fourth Wall Into The SunICYMI: She-Hulk Episode 9 hulk-smashed the fourth wall into the sun as Jennifer gets the win using the law, not her powers, and on her own terms. Review / SheHulk SheHulkAttorneyAtLaw DisneyPlus Marvel MarvelStudios DisneyPlus
Read more »
Stock Market News: Dow Futures Rise After Bank of America EarningsFutures rose after Bank of America's earnings, and investors cheered the U.K.'s U-turn on economic policies. Follow our live markets coverage.
Read more »
As market volatility persists, Wall Street analysts say to sell these stocksCNBC Pro screened almost 1,500 large and mid-cap global stocks and found a number of major companies with sell or underweight ratings.
Read more »