: U.S. stocks finish higher as Dow industrials book longest winning streak since March 2021 after better-than-expected corporate earnings
U.S. stock indexes ended higher on Tuesday with the Dow Jones Industrial Average settling at the highest level in 15 months after quarterly results from Bank of America Corp. BAC and Morgan Stanley MS bolstered bank stocks, while shares of Microsoft Corp. MSFT spiked to its record high, buoying the technology sector. The Dow industrials DJIA advanced 366 points, or 1.1%, to end at 34,951, its highest closing level since April 21, 2022. The S&P 500 SPX was up 0.7%, while the Nasdaq Composite COMP jumped 0.8%. Bank of America Corp.’s second-quarter earnings beat Wall Street expectations, sending the megabank’s stock up by more than 4.4% on Tuesday, while Morgan Stanley’s shares rallied 6.5% after its quarterly profit dropped but beat analyst expectations. Exchange-traded funds that buy bank stocks jumped on Tuesday with the SPDR S&P Regional Banking ETF KRE logging its best daily performance since June 6, according to FactSet data.
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