US stocks hold its gains on positive performance from banking and energy sectors

Economies.com
2019-04-16 20:45PM UTC

US stocks rose during today's trading and kept their gains in light of the positive performance of the energy and banking sectors as well as the anticipation of more corporate's earnings reports.

 

Earlier in the day, The Bank of America reported earnings and revenues that surpassed analysts' expectations for the first quarter of this year.

 

The positive reports coincided with markets optimism growing from the progress that being made in the ongoing trade negotiations between the world's two largest economies and the announcement by the US Treasury Treasury Secretary of a near reach of an agreement with Beijing.

 

On the other hand, industrial production in the US declined last month by 0.1% after rising by the same percentage in February.

 

The energy sector received support from the price of West Texas rising by 1% to $64.05 a barrel, with the highest price of the day at $64.3 and the lowest price at $62.9.

 

Additionally, Brent rose 0.8% to $71.72 a barrel, with the session's highest at $71.8 and the lowest at $70.7.

 

At the close of today's trading, Dow Jones Industrial Average rose 0.3% (68 points) to 26,452 points, and recorded a high of 26,530 points and a low of 26,397 points.

 

Nasdaq also rose 0.3% (24 points) to 8,000 points, reaching a session high of 8,017 points and a low of 7,979 points.

 

Standard & Poor's rose by only one point to 2,907 points, reaching a high of 2,916 points and a low of 2,900 points.

American Markets News

Americas News

Markets

Wall Street stabilizes after data
2024-04-18 17:18PM UTC
US stock indices stabilized on Thursday following strong data that showed the Fed won’t be ...
Americas News

Markets

Wall Street resumes its decline as markets assess corporate earnings
2024-04-17 16:20PM UTC
US stock indices declined on Wednesday as markets assess corporate earnings and Fed Chair Jerome ...
Americas News

Markets

US stock indices edge lower, but Dow Jones ekes out gains
2024-04-16 15:00PM UTC
Most US stock indices lost ground on Tuesday with the exception of Dow Jones, amid a constant flux ...