Dow ends at another record high as Wall Street buoyed by banks, small-caps
By David
French
Wed October 16, 2024 5:45 PM
It was a shot straight up on all three indexes today following yesterday’s substantial decline when banks came in with less than stellar Q3 and tech also taking a hit. But, Wednesday saw more banks with terrific Q3 and that combined with another renewed optimism in tech, particularly AI, with the Dow reaching still another record. Nvidia also had a very good day recouping much of Tuesday’s losses.
In fact, all the sectors flourished with the larger regional banks also closing higher as well as financials, utilities, materials, and industrials all closing at records. Even the transport index jumped 1.9% with United Airlines, Delta, and American all scoring big advances with UA doing its best in six months. More Q3 coming in the next two days plus retail sales and industrial production on Thursday. At 10.63 billion, volume remains below the 12.13 average.
DJ: 42,740.42 -324.80 NAS: 18,315.59 -187.10 S&P: 5,815.26 -44.59 10/15
DJ: 43,077.70 +337.28 NAS: 18,367.08
+51.48 S&P: 5,842.47
+27.21 10/16
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