Most US stocks rise after swinging through another erratic day

NEW YORK AP The bulk U S stocks rose Wednesday following another topsy-turvy day on Wall Street The S P added but only after jumping toward one of its biggest gains since the summer erasing it all and then climbing back The Nasdaq composite climbed after earlier pinballing between a drop of and a rally of The Dow Jones Industrial Average lagged the realm and edged down by points or less than The erratic trading followed Tuesday s roller coaster where the Dow careened between a loss of points and a jump of The dizzying moves go back to the end of last week when President Donald Trump shattered what had been a remarkably calm and strong run for Wall Street by threatening much higher tariffs on China System stocks helped lead the way Wednesday following a better-than-expected profit description from ASML a major supplier to the semiconductor industry It expects its revenue for to be above last year s while next year s should be at least as high as this year s On the sector side we have seen continued positive momentum around investments in AI CEO Christophe Fouquet mentioned and have also seen this extending to more customers That s key when worries have been high that a bubble may be forming in artificial-intelligence mechanism with too much financing flowing in akin to the dot-com frenzy ASML s stock climbed in Amsterdam On Wall Street Broadcom rose and Advanced Micro Devices jumped They were two of the strongest forces lifting the S P Several big banks also drove the territory higher Bank of America climbed after delivering a profit for the latest quarter that was stronger than analysts expected CEO Brian Moynihan stated every line of the bank s business announced increase Morgan Stanley rose after likewise reporting a stronger profit than analysts expected That followed better-than-expected profit reports from several banks the day before including JPMorgan Chase and Wells Fargo They helped offset a drop for PNC Financial It released a stronger-than-expected profit for the latest quarter but it also gave a forecast for upcoming earnings that a few analysts stated was below expectations Abbott Laboratories sank after its revenue for the latest quarter finished just shy of analysts expectations All narrated the S P rose points to The Dow Jones Industrial Average slipped to and the Nasdaq composite climbed to Companies are under pressure to deliver strong profits after their stock prices broadly surged from a low in April To justify those gains which critics say made their stock prices too expensive companies will need to show they re making much more in profit and will continue to do so Corporate profit reports are also under more scrutiny than usual as investors hunt for clues about the vitality of the U S economic activity That s because the U S executive s latest shutdown is delaying crucial updates on the financial system such as the summary on inflation that was supposed to arrive Wednesday The lack of such reports is making the job more laborious for the Federal Reserve which is trying to figure out whether high inflation or a slowing job area is the bigger dilemma for the business sector The Fed cut its main interest rate last month for the first time this year and officers indicated more may be on the way to give the job sector a boost But too low interest rates can push upward on inflation which has remained stubbornly stuck above the Fed s target Comments from the Fed s chair Jerome Powell on Tuesday may have hinted more cuts to rates may be on the way In the bond sphere the yield on the -year Treasury held at where it was late Tuesday One big winner because of expectations for coming cuts to rates has been gold and its price rose to top per ounce It s up nearly for the year so far because of a variety of reasons Investors are looking to buy something that can offer protection from pact wars real military wars and the prospect of higher inflation coming because of mountains of debt being amassed by the U S and other governments worldwide In stock markets abroad indexes were mixed in Europe following a stronger finish in Asia South Korea s Kospi jumped and France s CAC rose for two of the world s bigger moves