Yesterday (October 16) the Dow Jones Industrial Average achieved a record high, closing at 43,135.70 points, marking its third peak in four sessions.Meanwhile, the S&P 500 rose by 0.47% to 5,842.47, while the Nasdaq 100 remained almost unchanged since the opening bell earlier that morning.
Financial stocks led the market’s positive momentum.
With Morgan Stanley surging 6.5%, setting its new record high after reporting strong earnings, alongside other banks like JPMorgan Chase.The Russell 2000 Index climbed 1.6%, reaching its highest levels since November 2021.Investors remain cautious ahead of US retail sales and initial jobless claims readings due later today. Major tech companies like Apple and Alphabet experienced declines, while Nvidia bucked the trend with a 3.1% increase.Utilities led sector gains, boosted by Dominion Energy’s partnership with Amazon for nuclear technology.The Transport index rose 1.9%, driven by United Airlines’ strong performance and share buyback announcement.Investors are now awaiting further corporate earnings releases.Key earnings reports scheduled for next week:
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