U.S. Stock Market Climbs to Record Highs Amid Strong Bank Earnings and Mixed Economic Data
The U.S. stock market experienced significant gains as the Dow Jones surged over 300 points, closing at an all-time high, and the S&P 500 topped 5,800 for the first time. Positive quarterly earnings from major banks, including JPMorgan and Wells Fargo, fueled optimism among investors, while inflation data remained benign, allowing traders to feel reassured about Federal Reserve policies. However, shares of Tesla tumbled following its disappointing robotaxi event, impacting the Nasdaq. Overall, the market concluded with solid performance amid ongoing earnings season, with financial stocks leading the charge.
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