Banks Lead Stock Gains on Wall Street

Dow ends day up 141
By Newser Editors and Wire Services
Posted Jan 16, 2019 3:16 PM CST
Banks Lead Stock Gains on Wall Street
In this Jan. 11, 2019, file photo, specialist Gregg Maloney works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Strong earnings from several big banks powered more gains on Wall Street, with Goldman Sachs and Bank of America leading the way, the AP reports. Goldman Sachs jumped 9.5% Wednesday, its biggest gain in 10 years, after the bank said gains in its advisory business offset a rough quarter in trading. The bank had been lagging the market in recent months. Bank of America climbed 6.7% as rising interest rates helped it make more money from lending. Other sectors didn't move as much. Communications companies fell. The S&P 500 rose 5 points, or 0.2%, to 2,616. The Dow Jones Industrial Average added 141 points, or 0.6%, to 24,207. The Nasdaq rose 10 points, or 0.2%, to 7,034. (Read more stock market stories.)

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