Stock Market Update
16-Oct-24 12:05 ET
Financial sector leads after earnings
Dow +235.90
at 42976.32,
Nasdaq -17.90
at 18297.69,
S&P +8.39
at 5823.65
[BRIEFING.COM] The market continues to move in a sideways flow at the index level.
The financial sector sports a 1.0% gain, benefitting from positive responses to earnings news in the space. Morgan Stanley (MS 120.60, +8.47, +7.6%), First Horizon (FHN 17.47, +0.76, +4.5%), and Synchrony Financial (SYF 55.38, +2.09, +3.9%) are winning standouts in that respect, reaching new 52-week highs today.
Other bank stocks are outperforming the broader market, leading the SPDR S&P Bank ETF (KBE) to trade up 1.9%.
