Stock Market Today: Stocks Sprint Higher as Bank Earnings Impress

Bank of America and Bank of New York Mellon both reported Q3 earnings beats.

Bank of America building
(Image credit: Getty Images)

Stocks kicked off the new week on a high note, with all three major indexes notching solid gains Monday.

Wall Street cheered headlines out of the U.K., where newly installed finance minister Jeremy Hunt walked back major tax cuts unveiled by his predecessor, Kwasi Kwarteng, in late September. The tax cuts sparked excessive volatility across financial markets at the time they were announced – including sending the pound tumbling to a record low against the dollar.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.