(Bloomberg) — A rally in the world’s biggest technology companies lifted stocks, countering a slew of cautious comments from American bank executives that sent financial shares tumbling.
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Tesla Inc. led gains in megacaps. Oracle Corp. hit an all-time high. JPMorgan Chase & Co. sank more than 5% after tempering its earnings optimism. Bank of America Corp. said investment-banking results will come in lower than some on Wall Street expected. Earlier this week, Goldman Sachs Group Inc. signaled its trading unit is on course to drop 10% from the prior year. Ally Financial Inc. flagged intensifying credit deterioration among its borrowers.
Traders also weighed election risks ahead of the first debate between former President Donald Trump and Vice President Kamala Harris. The match-up promises more clarity for investors who’ve already spent months parsing campaign-trail language around tax proposals, tariff…
