Wednesday, August 17, 2022

US stocks surged on banks’ earnings


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at
U.S. stocks rose Wednesday as investors cheered on earnings from financial institutions like Goldman Sachs Group and Bank of America Corp.

Traders also eyed on U.K. Prime Minister Theresa May’s government survived a vote of no-confidence in parliament, a day after her proposed Brexit plan was overwhelmingly rejected by lawmakers.


The defeat, 432 against compared with 202 in favor, was the largest margin of defeat by a sitting British government since the 1920s, and throws into doubt the country’s plans to exit from the EU without disrupting global markets.


The Dow Jones Industrial Average DJIA, +0.59% rose 139 points, or 0.6%, to 24,205, while the S&P 500 index SPX, +0.22% or 0.2%, to 2,616.


The Nasdaq Composite Index NQH9, +0.15% or 0.2%, to 7,035. Goldman shares jumped by 9.5% FTSC finished lower by 0.47% to 6862.68

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