Market Snapshot: Stocks trim early rise; Goldman leads Dow gainers as investors scale back Fed rate-hike expectations

by | Jul 18, 2022 | Stock Market

U.S. stocks rose, but gave back some of the gains seen after stronger-than-expected quarterly results from Goldman Sachs and attempted to build on upside momentum from late last week as investors assessed the scope of an expected Federal Reserve interest rate hike next week.How stocks are trading
The Dow Jones Industrial Average
was up 195 points, or 0.6%, at 31,482, after rising 356 points at its session high.

The S&P 500
gained 29 points, or 0.7%, to trade at 3,892.

The Nasdaq Composite
jumped 126 points, or 1.1%, to 11,578.

On Friday, the Dow rose 658 points, or 2.2%, as it and the S&P 500 and the Nasdaq Composite trimmed weekly losses.

What’s driving markets Shares of Goldman Sachs Group Inc.
were up nearly 4% to lead Dow gainers after the investment-banking giant posted a stronger-than-expected second-quarter profit, although earnings fell from the year-ago quarter. Bank of America Corp.
shares rose 1.1% after the bank fell short of Wall Street’s profit estimate, but revenue matched the analyst view as the first full week of the U.S. second-quarter earnings season gets under way.
will deliver its figures after the …

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