U.S. stocks early Wednesday inched higher, as investors digested corporate quarterly results from the nation's largest banks for a second day. Goldman Sachs (GS)reported quarterly results that were much better than expected but results from Bank of America (BAC), Wells Fargo (WFC) and PNC Financial (PNC) were lackluster. The Dow Jones Industrial Average rose 0.1% at 28,724, the S&P 500 index gained less than 0.1% at 3,515, while the Nasdaq Composite Index advanced 0.1% at 11,880. Investors remain focused on a lack of progress on additional stimulus from Congress, with talks stalled. Fears about the spread of the coronavirus in the U.S. and elsewhere in the world also has given some bulls reason for caution. Still stocks remain mostly within reach of new highs as expectations grow for a postelection stimulus plan that could inject more juice into the economy if Democratic challenger and former Vice President Joe Biden wins the presidency and the Democrats also gain a majority in Congress.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 14, 2020 09:38 ET (13:38 GMT)
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