Stocks surge thanks to big rally for JPMorgan Chase and other banks
CNN
Investors took a break from selling in May and going away, for one day at least.
Stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted sentiment on Wall Street.
The Dow gained nearly 620 points Monday, a gain of about 2%. Dow component JPMorgan Chase (JPM) surged 6% after the Wall Street giant raised its outlook for interest income, a key measure of profitability.
Hours after President Joe Biden touted its success during his commencement speech at West Point last Saturday, White House staffers learned that the temporary pier the military had just constructed into Gaza was falling apart. Four Army vessels had been beached, two in Gaza and two along the coast of Israel.