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Wall Street hits fresh record on financial, tech gains

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Wall Street hits fresh record on financial, tech gains Empty Wall Street hits fresh record on financial, tech gains

Post  Admin on Mon Oct 16, 2017 4:21 pm

(Reuters) - Major Wall Street indexes hit fresh records at the open on Monday on gains in financial and technology stocks even as investors awaited a barrage of earnings reports this week.

Apple (AAPL.O) gained 1.05 percent, providing the biggest boost to the Nasdaq and the S&P after KeyBanc upgraded the stock to “overweight”.

Financial stocks gained for the first time in four days, led by bank stocks. Reactions to bank results last week were muted on concerns about credit card losses at JPMorgan (JPM.N) and Citigroup (C.N) and weak trading activity across the sector.

Investment banks Goldman Sachs (GS.N) and Morgan Stanley (MS.N) report before markets open on Tuesday. Insurer Travelers (TRV.N) jumped 2 percent, providing the biggest boost to the Dow.

Video-streaming pioneer Netflix (NFLX.O) reports third-quarter results after market.



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