Stocks climb on Wall Street as investors focus on earnings

Stocks
FILE - The New York Stock Exchange on June 29, 2022, in New York. (AP Photo/Julia Nikhinson, File)

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks rose on Wall Street, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns.

The S&P 500 rose 1.1% Tuesday. The Dow Jones Industrial Average and the Nasdaq also rose. The gains tempered from an earlier jump that sent almost all of the stocks in the S&P 500 higher.

It was the latest knee-jerk motion in a market that has been moving erratically in recent weeks.

Many U.S. companies are reporting solid profits for the most recent quarter. Goldman Sachs led banks higher after reporting results that beat forecasts.