Wall Street climbs after profits at big companies top forecasts

📆 2023/10/25 0:01:00
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Verizon jumped 7% after saying it increased its number of broadband subscribers by 20% and earned more than analysts expected during the summer.

Wall Street is rising Tuesday after Verizon, General Electric and other big companies reported fatter profits for the summer than expected. The Standard & Poor's 500 was 0.5% higher in early trading and on track to break a five-day losing streak. The Dow Jones industrial average was up 165 points, or 0.5%, as of 9:45 a.m. Eastern, and the Nasdaq composite was 0.7% higher. General Electric gained 4.

She said that if yields were to move much higher at a quick pace, it would risk hurting the Treasury market and shake the financial system’s stability. She said the Federal Reserve would likely step in to help the market like it did in March when high interest rates helped cause three high-profile collapses of U.S. banks.

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