U.S. Stocks Rise to Fresh Highs Amid Earnings, Stimulus Optimism
- JPMorgan’s results help strengthen sentiment on banks
- Industrial shares extend rally to longest since 2014
David George: JPMorgan a Story of Fees Beating Estimates
U.S. stocks rose to extend all-time highs, with the S&P 500 Index marking its longest winning streak in four months, as speculation grew for looser global monetary policies while a better-than-forecast profit from JPMorgan Chase & Co. boosted optimism for bank earnings.
JPMorgan climbed 1.5 percent to pace gains in banks, adding fresh momentum to a post-Brexit-vote rally that vaulted equities to records for the first time in more than 13 months. Citigroup Inc. increased 2.6 percent before its quarterly report Friday. Yum! Brands Inc. advanced 3 percent after its earnings beat estimates and the restaurant-chain operator raised its outlook. Industrial companies extended their longest stretch of gains since 2014.