After The Bell: Stocks Rally On Goldman Sachs, Bank Of America Earnings

Andy Giersher
January 16, 2019 - 5:30 pm

(WBBM NEWSRADIO) -- Stocks closed higher Wednesday as strong quarterly earnings from Goldman Sachs and Bank of America put investors in a buying mood. 

The S&P 500 gained 6, the NASDAQ added 11 and the Dow Jones industrial average closed up 141 points, settling to 24,207.

“You are seeing stocks responding well to earnings thus far,” said Chuck Carlson, CEO of Horizon Investment Services.

“You kind of need strength in financials if the broad market is going to sustain an upward move, so, it is good news to be seeing the banks, Goldman Sachs and some of the financials that have reported getting a hearty welcome from Wall Street.”

Carlson also noted that the three main engines of stock market performance are inflation, interest rates and corporate profits.