The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Stocks rose on Wednesday as investors cheered strong quarterly earnings from major banks like Goldman Sachs and Bank of America.
The Dow Jones Industrial Average rose 141.57 points to 24,207.16 as Goldman Sachs outperformed. The gained 0.2 percent to close at 2,616.10, led by a 2.2 percent gain in financials. The Nasdaq Composite climbed 0.15 percent to 7,034.69.
Goldman Sachs posted blowout quarterly earnings, sending the stock up 9.54 percent, its biggest one-day gain since 2009. Bank of America also rose 7.16 percent after reporting a record quarterly profit. The reports follow the releases of fourth-quarter results from Citigroup, J.P. Morgan Chase and Wells Fargo earlier this week. Morgan Stanley, another major bank, is scheduled to report on Thursday.
"Overall, Goldman had a good quarter," said Ken Leon, an analyst at CFRA Research. Also, "we did not see a multibillion dollar reserve for Malaysia," he added referring to the 1MDB scandal.
"For Bank of America, they performed well in their traditional banking areas," said Leon. "We did see better-than-peers deposit and loan growth. There was also healthy growth in consumer banking." Leon added Bank of America also had "more balanced and positive view than the other banks."
Separately, United Continental surged more than 6 percent after the company posted better-than expected earnings on Tuesday.
More than 6 percent of S&P 500 companies have reported calendar fourth-quarter earnings, according to FactSet. Of those companies, 85.3 percent have reported better-than-expected earnings.
However, strong earnings growth will be hard to find moving forward, according to Nick Raich, CEO of The Earnings Scout. "While stocks are in rally mode, S&P 500 EPS growth expectations are continuing to fall," Raich said in a note to clients. "Negative earnings momentum is a powerful force though investors should not become complacent."
The moves Wednesday follow solid gains in the previous session. The Dow closed more than 100 points higher on Tuesday as tech shares outperformed.
Equities have bounced back sharply this year after suffering massive losses to near the end of 2018. The major indexes were up at least 3.16 percent year to date. Since Dec. 24, they have all gained at least 8.8 percent. Stocks sold off towards the end of last year in part because of fear that the global economy was slowing down.
"In 2018, the U.S. recovery was on a path toward recession. It couldn't last much longer growing above 3% in real terms and 5.5% in nominal terms, with an unemployment rate below 4%," said Jim Paulsen, chief investment strategist at The Leuthold Group, in a note. "The challenge was to stay appropriately cautious in the face of good news. This year, investment success may require remaining fairly bullish in the face of bad news."
Nordstrom shares fell more than 4.5 percent after the company said sales at some stores were "below expectations" during the holiday season. Meanwhile, Snap dropped more than 13 percent on news the company's CFO was resigning.
—CNBC's Ryan Browne contributed to this report.