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“Dow pops 500 points as Wall Street applauds latest bank earnings, strong June retail sales”

“…The Dow Jones Industrial Average popped 532 points, or 1.74%. The S&P 500 jumped 1.35% and Nasdaq Composite added 1.06%, but stocks remained on track for weekly losses.

A new round of bank results from Wells Fargo and Citigroup offered further insight into the state of the economy. Wells Fargo rose 2.8% even as quarterly profits declined 48% and the bank set aside funds for bad loansCitigroup jumped 5.2% as it beat estimates and benefited from a rising rate environment….”

https://www.cnbc.com/2022/07/14/stock-market-futures-open-to-close-news.html

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