new York Investors on Wall Street have remained on guard as the US accounting season kicks off. The Dow Jones index of standard values closed a moderate 0.3 percent higher on Friday at 34,302 points. The tech-heavy Nasdaq advanced 0.7 percent to 11,079 points. The broad S&P 500 gained 0.4 percent to 3999 points.
The business figures presented by the major US financial institutions did not arouse any euphoria, but there were also no nasty surprises. “Banks’ results were solid,” summarized banking analyst Peter Torrente of KPMG. While on the one hand increasing risk provisions for possible loan defaults and a weakening business with mergers and acquisitions (M&A) burdened the results, on the other hand the financial institutions benefited from higher interest income.
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