Stock market today: S&P 500 holds near record high with big bank earnings in focus
Published On Oct 15, 2024, 11:08 AM
US stocks remained stable with the Dow Jones dropping about 0.6% primarily due to a downturn in UnitedHealth Group's shares after disappointing profit guidance. The S&P 500 remained near record highs, buoyed by strong earnings from major banks like Goldman Sachs and Bank of America, which reported substantial profit increases due to stronger deal-making and investment banking activities. Oil prices fell over 4% as concerns about escalating tensions in the Middle East eased, with reports suggesting Israel would not target Iran's oil facilities. Walgreens planned to close 1,200 stores, leading to a nearly 10% rise in its shares amidst reorganization efforts. Overall, the earnings season is expected to reveal further surprises while the market remains vigilant about geopolitical tensions and economic forecasts.