US stocks ended the trading session on Tuesday, the nineteenth of July, on a high, as the Dow Jones index added regarding 750 points, while following the results of companies’ business.
At the end of the session, the Dow Jones index rose by 754 points to 31,827 points.
The S&P 500 also rose by 2.76% to record 3,936 points, while the NASDAQ index closed with an increase of 3.1% at 11,713 points.
Investors are following the companies’ business results for the second quarter of 2022, while investors are betting that stocks have crossed the bear market stage following the sharp decline earlier this year.
Kim Forrest, founder and chief investment officer at Bokeh Capital Partners, said both investors and companies are expecting a sharp rise in inflation during the second quarter, so it wasn’t surprising at all, but the surprise was in the ability to handle inflation well.
Banking shares recorded significant gains, with Bank of America and Wells Fargo shares rising by 3.4% and 4.2%, respectively.
At the same time, IBM’s stock declined by 5.3%, following it disclosed its quarterly results on Monday.
