Rising tech and banking stocks boost Wall Street
Wall Street rebounded on Thursday (January 15th) after two consecutive days of declines, supported by a combination of solid earnings from major banks and a rally in technology stocks. The AI sector led the gains after Taiwan Semiconductor's (TSMC) performance results and more aggressive capital spending plans for 2026 rekindled market optimism about the growth of artificial intelligence.
In trading that day, the S&P 500 and Nasdaq both rose around 0.2%, while the Dow Jones Industrial Average surged 292 points. Chip and technology stocks also gained, with Nvidia rising around 2%, Applied Materials jumping around 5.6%, Micron rising around 1.1%, and Broadcom adding around 0.9%.
The banking sector was also a major supporter. Goldman Sachs surged around 4.6% and Morgan Stanley rose around 0.9% after both posted above-expected quarterly profits, supported by continued strong dealmaking activity. On the asset management side, BlackRock achieved a record for assets under management, further bolstering positive sentiment in the financial sector.
Data-wise, the market received additional support after the jobless claims report showed the US labor market remains resilient, while factory activity in New York State also rebounded. This combination of data reinforces the narrative that the economy has not weakened significantly—helping to bolster risk sentiment amidst the still-rapid market rotation.
Source: Newsmaker.id
