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Dow hits all-time high, soars over 400 points as investors cheer big bank earnings

Dow hits all-time high, soars over 400 points as investors cheer big bank earnings

The Dow and S&P 500 scored record closing highs on Friday, with the big boosts from financial stocks after banks reported strong quarterly results while the latest inflation data fueled expectations for a Federal Reserve rate cut in November.

Wall Street banks brace for downward revision of up to 1M fewer jobs — fueling worries the Fed failed to slash rates on time

Wall Street banks brace for downward revision of up to 1M fewer jobs — fueling worries the Fed failed to slash rates on time

Data showing the job market was weaker than previously thought could increase concerns the US economy is facing a potentially worse downturn than the current expectation for a “soft landing” in which inflation is tamed without a recession.