Stocks Shrug Off Bank Fears, AMEX Jumps: What’s Moving Markets Friday?
Wall Street shrugged off credit concerns that battered bank stocks on Wednesday, with large-cap indices posting slight gains by midday trading in New York, setting up for a positive weekly close.
• AXP is among today’s top performers. Watch the momentum here.
The S&P 500 rose 0.2% to 6,650 points, nearly erasing Thursday’s losses, while both the Nasdaq 100 and the Dow Jones edged 0.3% higher.
After suffering their worst day since April on Wednesday, financials and bank stocks rebounded. The SPDR Regional Banking ETF (NYSE:KRE) climbed 1.1%, while the Financials Select Sector SPDR Fund (NYSE:XLF) added 0.5%.
President Donald Trump said the U.S. is “going to do fine with China,” indicating that the extra 100% tariff on Chinese goods he threatened to impose at the start of November …
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