Your current location is:{Current column} >>Text
U.S. Stocks Open Higher as Banks Kick Off Another Week of Earnings By
{Current column}886People have watched
Introduction© Reuters. By Liz Moyer-- U.S. stocks opened higher as big banks kicked off another busy week o ...

By Liz Moyer
-- U.S. stocks opened higher as big banks kicked off another busy week of earnings.
At 9:31 AM ET,tr foreign exchange 2022 latest news the Dow Jones Industrial Average jumped 321 points, or 1%, while the S&P 500 rose 0.8% and the NASDAQ Composite rose 0.9%.
Goldman Sachs Group Inc (NYSE:GS) beat expectations, its stock rising more than 4% after bond trading helped overcome weakness in M&A advisory. Bank of America Corp (NYSE:BAC) rose 2.9% after its report also showed a slump in investment banking activity.
Investors are betting that the Federal Reserve won’t be as aggressive as some were betting last week after the consumer price index for June showed a jump of 9.1% for the 12 months ending last month.
High inflation stoked fears the Fed could jack up rates an uncharacteristically aggressive 1%, but now investors are expecting a 0.75 percentage point increase to match the move in June. That would still be one of the biggest moves since the 1990s.
Officials are trying to tame inflation, helped in recent weeks by a drop in gasoline prices, but still not enough for comfort. Food prices remain elevated as well, and a prolonged heat wave in much of the country means air conditioning bills will eat into household budgets this month.
This week will also see earnings from Tesla Inc (NASDAQ:TSLA), Twitter Inc (NYSE:TWTR) and Netflix Inc (NASDAQ:NFLX).
Oil rose. Crude Oil WTI Futures jumped 4%, to $98.44 a barrel, while Brent Oil Futures crude also rose 4%, to $105.23.Gold Futuresrose 0.6%, to $1,713 an ounce.
Tags:
Related articles
High activity spotted at North Korea nuclear complex after Kim's bomb
{Current column}WASHINGTON (Reuters) - Satellite images show a high level of activity at North Korea's main nuclear ...
Read moreGerman unemployment surges, job market plunges into crisis
{Current column}Data released by the Federal Labor Agency in Germany show that the seasonally adjusted unemployment ...
Read moreFormer "Bond King" Bill Gross is bearish on both the stock and bond markets.
{Current column}Last Friday, Bill Gross, the former "Bond King" who recently came out of retirement, expre ...
Read more
Popular Articles
- Fed to skip hike in June, hop into long pause before jump to cuts: Morgan Stanley By
- Today's Market Focus: Fitch Places U.S. Savings Bank on Negative Watch
- The profit outlook for Australian retailers raises concerns.
- British consumers are just as worried about food prices as they are about energy.
- VW pledges to double down on EVs in China, urges extension of NEV tax breaks By Reuters
- The top hierarchy of Russia's largest mercenary group was almost entirely wiped out.
Latest articles
-
7 analyst picks: Intel stock upgraded; 'things unlikely to get worse'
-
South Korea's banks announce stable interest rates, with a possible reduction in early 2024.
-
Robot orders faced a setback: North American companies sharply reduced orders in Q2.
-
Bank of Japan's policy leads Mizuho Financial Group to delay purchasing government bonds.
-
Banks renew appetite to tap Fed's emergency loans By
-
Economist: The European Central Bank (ECB) will pause rate hikes in September.