Traders work on the floor of the New York Stock Exchange (NYSE) on October 13, 2025, in New York City. <\/p>\n
Spencer Platt | Getty Images<\/p>\n
Stocks rose Wednesday as a slate of stronger-than-anticipated earnings overshadowed worries about growing trade tensions with China.<\/p>\n
The Dow Jones Industrial Average<\/a> climbed 209 points, or 0.5%. The S&P 500<\/a> gained 0.7%, while the Nasdaq Composite<\/a> advanced nearly 1%.<\/p>\n Bank of America shares jumped 4% after the company posted third-quarter earnings and revenue<\/a> that beat analyst expectations, thanks to strong investment banking revenue. Morgan Stanley also posted better-than-expected earnings<\/a>, sending its shares higher by 6%.<\/p>\n Those reports come after a spate of better-than-expected reports from Goldman Sachs and Wells Fargo, among others, on Tuesday.<\/p>\n Still, Wall Street veteran Art Hogan believes that stocks will likely trade sideways from here, wavering near all-time highs as long as trade war uncertainty persists. The chief market strategist at B. Riley Wealth Management also said the U.S. government shutdown is another headwind for the market.<\/p>\n “The longer it lasts, the more economic damage it does upfront. So that’s affecting confidence. It’s likely going to affect guidance from Corporate America during the conference calls,” he said to CNBC. “Earnings seasons may well be much better than expected across the board, with the usual percentage of companies that beat and raise and all that. I just don’t think that that acts as a tailwind, necessarily, until we get closer to the government reopening and perhaps more clarity on our trade relationship with China.”<\/p>\n Trade fears led to a tumultuous session on Tuesday. The S&P 500 attempted a comeback, but ultimately closed lower after President Donald Trump threatened China with a cooking oil embargo<\/a> late in the session as retaliation for Beijing not buying U.S. soybeans. On Tuesday, the benchmark was up as much as 0.4% and down as much as 1.5%.<\/p>\n The Nasdaq fell but closed well off the lows. The Dow bucked the trend to rise just over 200 points, although it had fallen as much 1.3% on Tuesday morning.<\/p>\n