U.S. stocks rose Thursday after better-than-expected earnings reports from Bank of America and other major companies.
The Dow Jones Industrial Average jumped about 505 points, or 1.5%. The S&P 500 gained 1.6% and the Nasdaq Composite added 1.7%.
Third-quarter earnings season continued Thursday with several big banks and Dow members reporting financial results before the bell.
Eight members of the S&P 500 reported earnings this morning and all eight beat earnings-per-share expectations from Wall Street.
“So far, the overwhelming majority of large US companies have been able to generate higher profitability despite rising labor costs because sales growth has been so robust. We expect the same to be true in 3Q,” Mark Haefele, chief investment officer of UBS Global Wealth Management, said in a note Thursday
https://www.cnbc.com/2021/10/13/stock-market-futures-open-to-close-news.html
- DSA's national leaders postpone decision on rescinding Raman's endorsement for mayor
- Woman who claimed she was carrying 'Bachelor' star's baby sentenced in pregnancy fraud scheme
- One pair of rare Brooks-Disney athletic shoes led detectives to $1M in stolen gear, police say
- 9th Circuit denies feds' appeal over 20,000 ballots; district court hearing to proceed
- Former Bass opponent Rick Caruso now says he will vote for her reelection as mayor
- Wine Country's St. Helena takes drastic action to fix 'embarrassing' tap water
- Ethics complaint filed over ads falsely portraying Raman promoting homeless camps
- Ahead of midterms, Trump offers $1-million reward to voter fraud tipsters
- Your guide to Pasadena Measure PFD: A special parcel tax to fund the fire department
- Plans to turn Tanforan mall from 'death spiral' into housing moves forward
- Help sought in identifying man who died by self-immolation at Bay Area beach
- A California foster mom with cancer vanished. Now her foster son is in custody.
- Laura Owens, daughter of Bay Area radio legends, gets jail time for 'Bachelor' pregnancy fraud
- Cal State LA launches San Quentin's first bachelor's program
- 2 dead after Lexus flies over median into I-280 traffic in Los Altos, CHP says