U.S. stocks rallied Friday to

2022-07-16

U.S. stocks rallied Friday to cap a four-day losing streak on Wall Street. Sentiment was buoyed by better-than-expected retail sales data and a surprise earnings beat from Citigroup.

The S&P 500 surged 1.92%, while the Dow Jones Industrial Average added 658.09 points, or 2.15%. The tech-heavy Nasdaq climbed 1.79%

Blowout second-quarter results from Citi lifted shares of banking industry peers to post the best intraday rally for the sector since May, according to Bloomberg data. The mega bank reported an 11% jump in revenue for the period to $19.64 billion, one day after traders mulled a set of disappointing financials from JPMorgan and Morgan Stanley. Shares of Citi closed up 13%. Wells Fargo and Bank of America gained 6% and 7%, respectively.

Q1 Earning Season

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Comments

nickname168
2022-07-16
nickname168
noted
AhGong
2022-07-16
AhGong
noted
Frisbee
2022-07-16
Frisbee
ok
luv2trade
2022-07-16
luv2trade
way to go
onlyYou
2022-07-16
onlyYou
ok
Shop
2022-07-16
Shop
noted

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