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Wall Street scales record highs on earnings optimism, data

Reuters 

By Sinead Carew(Reuters) - Wall Street continued its rally on Friday as fourth-quarter earnings season kicked off with solid results from banks and robust retail sales drove gains for consumer stocks.All three major indexes were on track for record closing highs for the second day in a row. JPMorgan , the biggest U.S. lender by assets, said a U.S. tax overhaul would help future profits by reducing its tax bill and stimulating more business. The bank's shares rose more than 1 percent."The fact all the big money centre banks beat on the bottom line is a good omen for the rest of the earnings ...

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First Published: Sat, January 13 2018. 02:00 IST
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