The NYSE indexes rose sharply in Monday's trading.
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Posted On: 10/17/2022 6:34:12 PM
The NYSE indexes rose sharply in Monday's trading. Technology companies and banks performed well.
The broad S&P 500 rose 2.7 percent and the tech-heavy Nasdaq composite index gained 3.4 percent. The Dow Jones industrial index closed at plus 1.9 percent.
Technology stocks were strong , with Apple rising 2.9 percent and Google's parent company Alphabet climbing 3.5 percent. Communications company Zoom rose over 6 percent.
The banking sector also did well. Bank of America rose 6 percent after posting better-than-expected results. Bank of New York Mellon also reported better than expected, rising over 5 percent, CNBC writes.
Monday's generally good stock market mood may be partly due to the British U-turn that Britain's new Finance Minister Jeremy Hunt detailed on Monday. "Virtually all" of the previously planned and criticized tax breaks planned by the government are being torn up, which will provide the equivalent of just over SEK 400 billion in "savings" to the British treasury.
This week, a number of reporting companies are in Wall Street's spotlight - including Netflix and Tesla - that could potentially give the market a clearer indication of how companies and consumers have been affected by inflation, the AP writes.
Potential to gain interest from wealthy investors?
https://aitx.ai/aitx-investors-corner/
The broad S&P 500 rose 2.7 percent and the tech-heavy Nasdaq composite index gained 3.4 percent. The Dow Jones industrial index closed at plus 1.9 percent.
Technology stocks were strong , with Apple rising 2.9 percent and Google's parent company Alphabet climbing 3.5 percent. Communications company Zoom rose over 6 percent.
The banking sector also did well. Bank of America rose 6 percent after posting better-than-expected results. Bank of New York Mellon also reported better than expected, rising over 5 percent, CNBC writes.
Monday's generally good stock market mood may be partly due to the British U-turn that Britain's new Finance Minister Jeremy Hunt detailed on Monday. "Virtually all" of the previously planned and criticized tax breaks planned by the government are being torn up, which will provide the equivalent of just over SEK 400 billion in "savings" to the British treasury.
This week, a number of reporting companies are in Wall Street's spotlight - including Netflix and Tesla - that could potentially give the market a clearer indication of how companies and consumers have been affected by inflation, the AP writes.
Potential to gain interest from wealthy investors?
https://aitx.ai/aitx-investors-corner/
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