S&P 500, Dow hit records, boosted by bank earnings surprise
The S&P 500 and the Dow scored record closing highs on Friday, with the biggest boosts from financial stocks after banks reported strong quarterly results while the latest inflation data supported expectations for a U.S. Federal Reserve rate cut in November. Major financial companies kicked off earnings season with JPMorgan Chase rallying after the lender…
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Stocks climb on bank earnings boost, US yields dip
Global stocks rose on Friday, lifted by U.S. bank earnings, and on track for a weekly gain while U.S. Treasury yields were mostly lower after inflation and consumer confidence reports solidified expectations for the path of Federal Reserve rate cuts. The U.S. producer price index for final demand was unchanged in September, slightly below the…
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