Wall Street

Easing rate-hike bets, bank earnings lift Wall Street

Published by
Reuters

By Shreyashi Sanyal and Sruthi Shankar (Reuters) -U.S. stock indexes rose on Monday after earnings from big banks beat expectations for profit, extending last week’s positive momentum amid easing bets of a super-sized interest-rate hike by the Federal Reserve. Goldman Sachs Group Inc gained 2.5% as it reported a smaller-than-expected 48% slump in second-quarter profit, helped by strength in its fixed-income trading. Bank of America Corp also rose 0.4% after beating analysts’ estimates for quarterly profit. Gains in their shares helped lift the S&P 500 banks index by 0.6%, in what has been a mi…

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