Bank Earnings Boost S&P 500 and Nasdaq to New Record Highs
The S&P 500 and Nasdaq reached new record closing highs. The S&P 500 rose 0.8% to 7,022.95, while the Nasdaq jumped 1.6% to 24,016.02. This movement was driven by a strong round of bank earnings that lifted market sentiment. Morgan Stanley and Bank of America beat market estimates in their quarterly results, following JPMorgan Chase and Citigroup, which had topped forecasts earlier in the week.
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