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S&P, Nasdaq rise on bank and tech gains; IBM dents Dow


By Yashaswini SwamynathanREUTERS - The S&P 500 and the Nasdaq rose on Wednesday, aided by banks and technology stocks, while a drop in IBM weighed on the Dow.The gain in financials was underpinned by a 3 percent jump in shares of Morgan Stanley, which reported a surge in quarterly profit.Morgan Stanley's solid results provided some succor to investors stung by weak results at chief rival Goldman Sachs a day earlier.Shares of Bank of America, JPMorgan and Wells Fargo edged up slightly."This bounce today in U.S. equities is perhaps investors looking beyond daily moves," said James Athey, senior ...

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First Published: Wed, April 19 2017. 19:36 IST