US stocks continued their climb today that had begun yesterday, bolstered by quarterly reports from big-name financial institutions that exceeded expectations. The Nasdaq was up 0.15% (10.86 points) as the market closed on Wednesday and the S&P 500 rose 0.22% (5.80 points). The Dow saw gains of 0.59% (141.57 points).
Individual components of the Dow saw fairly mixed results today. Verizon (VZ) saw the biggest declines on the day with a drop of 1.84%. United Health Group (UNH), though, did well with gains of 1.69%, and American Express (AXP) also rose 1.44% today.
Outside the Dow, Atossa Genetics (ATOS) saw a small increase of 0.79%.
Two major financial institutions – Goldman Sachs (GS) and Bank of America (BAC) – released their quarterly reports today, and although many were braced for some less than good news, both exceeded expectations. Goldman Sachs beat profit expectations, boosted by an unexpected performance by the investment banking division. The report didn’t go unnoticed, as Goldman Sachs topped the Dow companies with an outstanding spike of 9.63% to end the session.
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