Business Standard

Wall St up as Goldman results keep optimism alive, rising yields cap gains

The benchmark 10-year Treasury note reversed early declines to rise for the fourth straight day, while big technology and growth names like Apple Inc, and Nvidia Corp cut back gains

Wall Street

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City (Photo: Reuters)

U.S. stock indexes rose on Tuesday as strong results from Goldman Sachs calmed worries of a substantial hit to profit from rising interest rates, but a rise in government bond yields pushed megacap growth stocks lower.
Goldman Sachs Group Inc gained 2.5% after reporting a smaller-than-expected drop in quarterly profit due to a slowdown in investment banking, which was cushioned by a boost in net interest income.
The investment bank, which is reorganizing its business into three units, wrapped up earnings from big U.S. banks on a largely positive note, even though several lenders raised the loan loss provisions in

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 18 2022 | 7:38 PM IST

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