Wall Street's main stock indexes rallied as much as 3% on Monday, catalyzed by better-than-expected Bank of America earnings, while traders debated whether recent wild swings signaled some sort of bottom was forming after new-bear market lows were reached last week.
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar
NEW YORK, Oct 17 - Wall Street's main stock indexes rallied as much as 3% on Monday, catalyzed by better-than-expected Bank of America earnings, while traders debated whether recent wild swings signaled some sort of bottom was forming after new-bear market lows were reached last week.initially nosedived to its lowest since November 2020 after hotter-than-expected consumer Prices data reinforced expectations that the Federal Reserve's aggressive rate hike path would trigger a recession. But stocks staged an epic turnaround that day with traders guessing that a range of technical and positioning factors kicked in.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix Earnings Preview: Wall Street Focus on Ads May Outweigh Subscriber AddsAhead of its third quarter disclosure on Oct. 18, analysts weigh the streaming giant's forecast of 1 million net sub additions with the potential upside and momentum of the service's ad-tier launch.
Read more »
Stock Market News: Dow Futures Rise After Bank of America EarningsFutures rose after Bank of America's earnings, and investors cheered the U.K.'s U-turn on economic policies. Follow our live markets coverage.
Read more »
As market volatility persists, Wall Street analysts say to sell these stocksCNBC Pro screened almost 1,500 large and mid-cap global stocks and found a number of major companies with sell or underweight ratings.
Read more »
Wall Street opens sharply higher; UK tax retreat welcomedNEW YORK (AP) — Stocks are opening sharply higher on Wall Street, the latest about-face for a market that has seen a lot of sudden ups and downs recently. The S&P 500 jumped 2.5% in the early going Monday, while the Dow was up 2% and the Nasdaq climbed 3%.
Read more »
Wall Street Reacts Positively to Victoria’s Secret After Investor DayStill, analysts say the company’s turnaround efforts might be undervalued on the Street.
Read more »