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S&P 500, Dow Jones rise after mixed bank earnings; tech-heavy Nasdaq falls

Largest US lender JP Morgan Chase & Co was up 0.2% after it posted a smaller-than-expected 51% drop in second-quarter profit.

coronavirus, wall street, markets
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Wall Street has reclaimed most of its coronavirus-driven losses since March as a raft of monetary and fiscal stimulus and upbeat economic data raised hopes of a swift post-pandemic recovery.

Medha Singh & Devik Jain | Reuters
The S&P 500 and Dow indexes edged higher in volatile trading on Tuesday as investors digested a mixed bag of quarterly earnings reports from US lenders but technology stocks fell on worries over new business restrictions in California.
 
Largest US lender JP Morgan Chase & Co was up 0.2% after it posted a smaller-than-expected 51% drop in second-quarter profit.
 
However, Wells Fargo & Co tumbled 5.7% after booking a quarterly loss for the first time since the 2008 financial crisis. Citigroup Inc was also down 2.7% as it reported a steep fall in quarterly profit.
 
The S&P 500 banks index