Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Stocks rise on strong earnings reports

10/15/2021 | 05:22pm EST

Strong earnings from Goldman Sachs and positive economic data propelled stocks north on Wall Street Friday, extending the Nasdaq's and S&P 500's winning streak to a third day.

Financial stocks led the rally after Goldman posted a 60% jump in quarterly profit. That report capped a banner quarter for the U.S.' biggest banks which cashed in on a record wave in deal making.

Mercadien Asset Management's Ken Kamen says that, along with last month's 0.7% gain in retail sales, drove sentiment on the Street higher.

"The banks have been reporting very positive numbers. We're also still having consumers with a lot of cash. You know supply is limited, but demand is certainly there."

Demand for Goldman shares, which rose nearly 4%, helped push the Dow up over 1%. The S&P 500 added three-quarters percent. And the Nasdaq advanced a half percent.

On the week, the major indexes notched solid gains.

Shares of Johnson & Johnson rose. A U.S. Food and Drug Administration advisory panel voted unanimously to recommend its COVID-19 booster shot for all adults at least two months after their first dose. On Thursday, that panel backed Moderna's booster shots for elderly Americans and those at high risk of severe illness.

But Moderna shares fell Friday after the Wall Street Journal reported the FDA is delaying its decision on authorizing its COVID-19 vaccine for adolescents... so it can check if the shot could boost the risk of a rare inflammatory heart condition.


© Reuters 2021
Latest news "Economy & Forex"
05:19aEU seeks to forge new global trade rules with U.S
RE
05:15aOECD says inflation is main risk to economic outlook
RE
05:08aREFORMING GLOBAL TRADE RULES IS TOUGH BUT DOABLE : WTO chief
RE
05:04aOil rises 1% ahead of OPEC meeting under Omicron cloud
RE
05:03aEmerging markets face a 'double whammy' in 2022, Citi says
RE
04:59aEgypt shuts Alexandria and Dekheila ports because of bad weather
RE
04:55aSuncity closes its Macau VIP gaming rooms after CEO's arrest -sources
RE
04:54aEuro dollar volatility surges on Omicron, bets on Fed
RE
04:54aUK's Drax to double biomass production capacity, sales by 2030
RE
04:53aSoaring cost pressures hit UK manufacturers in Nov -PMI
RE
Latest news "Economy & Forex"