Wall Street Rallies as Strong Earnings Kick Off Season; UBS Says Bull Market ‘Intact’
Wall Street posted significant gains Wednesday as earnings season kicked off with stronger-than-expected results from major banks and tech companies. According to UBS analysis, early reporting companies are showing “decent” performance with 80% beating sales estimates, supporting the view that the bull market remains intact.
Market Rally Led by Banking and Tech Sectors
U.S. stocks surged Wednesday as earnings season began with several major companies reporting stronger-than-expected profits. The S&P 500 rose 0.8%, recovering from earlier losses, while the Dow Jones Industrial Average gained 254 points and the Nasdaq composite climbed 1.1%, according to market reports.