Dow Pops on Solid Earnings - InvestingChannel

Dow Pops on Solid Earnings

The Dow Jones Industrial Average climbed Friday as strong earnings results from some of the biggest banks and companies kicked off earnings season.

The 30-stock index gained 113.89 points to end Friday and the week at 34,509.03, a hike on the week of 774 points, or 2.3%.

The S&P 500 fell behind 4.59 points to 4,505.45, but advancing over the last five sessions by 106 points, or 2.4%.

The NASDAQ index subtracted 24.87 points to 14,113.70, screaming higher on the week 453 points, or 3.3%.

Wall Street is coming off its fourth consecutive day of gains, with the NASDAQ and S&P 500 reaching their highest levels since April 2022.

UnitedHealth shares jumped 8% after the insurance giant reported better-than-expected earnings and revenue. The company also raised the lower end of its full-year earnings guidance.

JPMorgan Chase rose 0.3% after its second-quarter earnings topped expectations. The bank was boosted by higher interest rates and rising interest income. Wells Fargo also gained 0.5% on the back of better-than-expected results.

Prices for the 10-year Treasury lost strength, raising yields to 3.82% from Thursday’s 3.76%. Treasury prices and yields move in opposite directions.

Oil prices flopped $1.56 to $75.33 U.S. a barrel.

Gold prices dulled $4.30 to $1,959.50 U.S. an ounce.

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