Stock market today: Wall Street rises, and oil and gold fall as some of last week's moves unwind

📆 2023/10/17 6:34:00
📰 AP

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U.S. stocks rallied as some of last week’s moves driven by worries about war in the Middle East unwound. The S&P 500 climbed 1.1% Monday. The Dow rose 314 points, and the Nasdaq composite added 1.2%. Treasury yields rose after tumbling last week on worries that fighting in Gaza will escalate.

FILE - A trader looks over his cell phone outside the New York Stock Exchange, Wednesday, Sept. 14, 2022, in the financial district of Manhattan in New York. NEW YORK — U.S. stocks rallied Monday as some of last week’s moves in financial markets driven by worries about war in the Middle East unwound.Treasury yields also climbed after falling last week on worries that fighting in Gaza will escalate.

Charles Schwab rose 4.7% after it reported stronger profit for the three months through September than analysts expected. Strategists at Bank of America, meanwhile, expect this reporting season to mark “the start of earnings recovery.” Companies usually report bigger profits than analysts are forecasting, and this quarter may see them beat by more than the usual margin, Ohsung Kwon and Savita Subramanian said in a BofA Global Research report.

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