Bank of America, Goldman Sachs Earnings Drive Stock Market Rally

Bank of America, Goldman Sachs Rise 7%

Kate Austin, equity research analyst at Adviser Investments, has the market analysis for Wednesday, January 16. Driven by strong earnings from the financial sector, major U.S. stock indexes advanced: The Dow Jones Industrial Average rose 0.6% and both the S&P 500 and NASDAQ gained 0.2%. Bank of America and Goldman Sachs each spiked more than 7% today after beating analyst earnings and revenue forecasts. On the other hand, Ford fell 6% after lowering fourth-quarter guidance as a result of restructuring changes and global sales uncertainty.

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