published on January 16, 2019 - 1:30 PM
Written by

(AP) – The latest on developments in financial markets (all times local):

4 p.m.

Strong earnings from several big banks powered more gains on Wall Street, with Goldman Sachs and Bank of America leading the way.

Goldman Sachs jumped 9.5 percent Wednesday, its biggest gain in 10 years, after the bank said gains in its advisory business offset a rough quarter in trading. The bank had been lagging the market in recent months.

Bank of America climbed 6.7 percent as rising interest rates helped it make more money from lending.

Other sectors didn’t move as much. Communications companies fell.

The S&P 500 rose 5 points, or 0.2 percent, to 2,616.

The Dow Jones Industrial Average added 141 points, or 0.6 percent, to 24,207. The Nasdaq rose 10 points, or 0.2 percent, to 7,034.

Bond prices fell. The yield on the 10-year Treasury rose to 2.72 percent.

___

11:45 a.m.

Stocks are rising in midday trading on Wall Street following strong results from major banks including Goldman Sachs and Bank of America.

Technology and consumer-focused companies also traded higher Wednesday.

United Continental soared 6.1 percent after its latest quarterly results beat analysts’ estimates.

Britain’s FTSE 100 stock index slipped after Parliament rejected the Brexit deal negotiated by Prime Minister Theresa May and European leaders.

The S&P 500 rose 5 points, or 0.2 percent, to 2,615.

The Dow Jones Industrial Average added 114 points, or 0.5 percent, to 24,177. The Nasdaq rose 10 points, or 0.1 percent, to 7,033.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.73 percent.

___

9:35 a.m.

Stocks are opening broadly higher on Wall Street, led by big gains in several banks after they reported solid earnings.

Bank of America jumped 5 percent in early trading Wednesday after the bank reported a 39 percent surge in earnings. Goldman Sachs climbed 3.7 percent after reporting strong results of its own.

United Continental soared 7.3 percent after its latest quarterly results beat analysts’ estimates.

The S&P 500 rose 8 points, or 0.3 percent, to 2,618.

The Dow Jones Industrial Average added 105 points, or 0.4 percent, to 24,169. The Nasdaq rose 27 points, or 0.4 percent, to 7,051.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 percent.


e-Newsletter Signup

Our weekly poll

What is the single-biggest reason for a spike in violent crime in Fresno?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY