Posted 1/12/2024, 7:13:00 PM
Stocks Rebound to Records as Earnings Season Kicks Off, While Boeing Slumps on Scrutiny
- Stock market rebounded with Dow and S&P 500 hitting record highs; Nvidia surged on new AI chips while bitcoin ETFs began trading after SEC approval
- Inflation reports indicated Fed's key measure likely stayed below 2% target, bolstering rate cut bets
- Boeing plunged over 12% on increased regulatory scrutiny of 737 Max manufacturing issues
- Major banks kicked off earnings season with mixed results; JPMorgan and BofA beat views while Wells Fargo missed
- Medical and retail companies like Dexcom, Intuitive Surgical, Abercrombie & Fitch provided upbeat preliminary results and guidance