US stocks hold its gains on positive performance from banking and energy sectors

Economies.com
2019-04-16 20:45PM UTC

US stocks rose during today's trading and kept their gains in light of the positive performance of the energy and banking sectors as well as the anticipation of more corporate's earnings reports.

 

Earlier in the day, The Bank of America reported earnings and revenues that surpassed analysts' expectations for the first quarter of this year.

 

The positive reports coincided with markets optimism growing from the progress that being made in the ongoing trade negotiations between the world's two largest economies and the announcement by the US Treasury Treasury Secretary of a near reach of an agreement with Beijing.

 

On the other hand, industrial production in the US declined last month by 0.1% after rising by the same percentage in February.

 

The energy sector received support from the price of West Texas rising by 1% to $64.05 a barrel, with the highest price of the day at $64.3 and the lowest price at $62.9.

 

Additionally, Brent rose 0.8% to $71.72 a barrel, with the session's highest at $71.8 and the lowest at $70.7.

 

At the close of today's trading, Dow Jones Industrial Average rose 0.3% (68 points) to 26,452 points, and recorded a high of 26,530 points and a low of 26,397 points.

 

Nasdaq also rose 0.3% (24 points) to 8,000 points, reaching a session high of 8,017 points and a low of 7,979 points.

 

Standard & Poor's rose by only one point to 2,907 points, reaching a high of 2,916 points and a low of 2,900 points.

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