US stocks rose to records Friday as big banks rallied following a run of reassuring profit reports. The Dow rose 409.74 points, or 1%, to 42,863.86, a record. The S&P.
US stocks rose to records Friday as big banks rallied following a run of reassuring profit reports.
Wells Fargo rose 5.6% after reporting stronger profit for the latest quarter than analysts expected, the AP reports. It benefited from better results from its venture-capital investments and higher fees for investment-banking services, among other factors. Banks and other financial giants traditionally kick off each earnings reporting season, and JPMorgan Chase climbed 4.
