Arab Today, arab today strong bank earnings propel stocks higher
Last Updated : GMT 04:25:05
Arab Today, arab today
Arab Today, arab today

Strong bank earnings propel stocks higher

Arab Today, arab today

Arab Today, arab today Strong bank earnings propel stocks higher

New York - AFP

US stocks edged higher to new highs Friday after strong banking earnings helped offset a profit warning from UPS and fresh trouble for Boeing\'s Dreamliner aircraft. The Dow Jones Industrial Average rose 3.38 (0.02 percent) to 15,464.30, nudging above Thursday\'s record. The S&P 500 also rose to a new record, adding 5.17 (0.31 percent) at 1,680.19, while the tech-rich Nasdaq Composite Index jumped 21.78 (0.61 percent) to 3,600.08. Earnings from JPMorgan Chase and Wells Fargo beat expectations by a wide margin. Wells Fargo shares jumped 1.8 percent after reporting a jump in net second quarter earnings to $5.5 billion compared with $4.6 billion a year earlier, helped by 3.5 percent growth in loans. Bank executives said its size and varied income streams insulates it from some of the negative effects of higher interest rates. JPMorgan ended the day down 0.3 percent after trading in positive territory much of the day. The bank reported a 31 percent gain in profits but warned higher interest rates could crimp profits from mortgage banking. Other banks also gained, including Bank of America (up 2.0 percent) and Morgan Stanley (up 2.3 percent). But the Dow was weighted down by Boeing after a parked Ethiopian Airlines 787 Dreamliner plane caught fire at London\'s Heathrow airport, raising new fears for the trouble-plagued aircraft after it was grounded earlier this year for battery issues. Boeing closed 4.7 percent lower after dropping as much as 7.4 percent earlier in the day. UPS closed 5.8 percent lower, while rival FedEx shed 2.0 percent, after UPS slashed its second-quarter forecast, citing weak US industrial activity and air freight overcapacity. Dell slipped 0.2 percent after Carl Icahn and his allies boosted their offer, a rival to the go-private takeover proposed by a consortium led by founder Michael Dell. Alexion Pharmaceuticals soared 12.6 percent following reports that Swiss pharmaceutical company Roche Holding is seeking financing for a potential takeover of the company. Another pharmaceutical company, Regeneron, jumped 7.3 percent following a ratings upgrade. Lazard gave the company a \"buy\" rating, predicting potential growth across numerous business lines. Bond prices fell.The yield on the 10-year Treasury rose to 2.60 percent from 2.57 percent late Thursday, while the 30-year increased to 3.65 percent from 3.62 percent. Bond prices and yields move inversely.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today strong bank earnings propel stocks higher Arab Today, arab today strong bank earnings propel stocks higher

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today strong bank earnings propel stocks higher Arab Today, arab today strong bank earnings propel stocks higher

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday