Wall Street inches up with financials; earnings in focus

All three major US stock index rose to record closing highs on Monday, with the Dow Jones Industrial Average less than 50 points below 23,000, ahead of a long list of earnings this week and as financial shares recovered from last week’s losses.

JPMorgan Chase and Bank of America led gains in bank stocks, tracking a climb in US Treasury yields, which benefits banks. JPMorgan was up 2.1 percent, while Bank of America was up 1.6 percent.

The Dow Jones Industrial Average rose 85.24 points, or 0.37 percent, to close at 22,956.96, the S&P 500 gained 4.47 points, or 0.18 percent, to 2,557.64 and the Nasdaq Composite added 18.20 points, or 0.28 percent, to 6,624.01.

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Posted in: Indian Market Tips