Reported 15 days ago
US stocks saw a modest uptick on Wednesday amidst strong bank earnings and hopes for interest rate cuts, even as US-China tensions lingered. The S&P 500 and Nasdaq climbed 0.4% and 0.7% respectively, buoyed by Bank of America’s 23% profit increase and Morgan Stanley’s 45% surge, despite a rocky market environment. Federal Reserve Chair Jerome Powell hinted at potential rate cuts as the government shutdown continues to complicate economic outlooks. Investors remain wary of ongoing trade frictions, particularly as new sanctions and tariff threats raise concerns.
Source: YAHOO