Wall Street Opens Higher as Bank and Chip Bellwethers Lift Sentiment Oil, Gold Rise

U.S. stocks advanced at the opening bell Wednesday, with the Dow up 175 points (0.38%) to 46,445.5, the S&P 500 higher by 44.76 (0.67%) to 6,689.07, and the Nasdaq gaining 218.44 (0.97%) to 22,740.1. Small caps also climbed, with the Russell 2000 up 0.98% to 250.33. Commodities firmed: gold added 0.98% to $4,204.30, while U.S. crude rose 0.87% to $59.21.

Financials and semiconductors set the tone after a run of better-than-expected results. Bank of America reported third-quarter net income of $8.5 billion as net interest income and trading rebounded, and shares were up in early trading, according to figures in the firm’s report summarized in the provided materials. CEO Brian Moynihan cited the bank’s “balanced and diversified model” and said clients “continue to spend, invest, and borrow responsibly,” underscoring resilient consumer activity and credit quality.

In tech, equipment maker ASML beat profit expectations and delivered sturdy margins, helped by demand for EUV tools tied to artificial-intelligence chips. CEO Christophe Fouquet said “AI could create a lot of value in our products moving forward,” and guided that 2026 sales won’t fall below 2025, even as management warned that Chinese demand should decline “significantly” that year amid export controls. An outside take from Ben Barringer of Quilter Cheviot called it “decent guidance given the volatility.”

Morgan Stanley added to the upbeat tone with $18.2 billion in net revenue, led by a rebound in investment-banking and record wealth-management revenue. CEO Ted Pick said the quarter “demonstrate[s] the power of the firm’s diversified model,” noting engagement “remain[s] high as clients navigate” shifting rates, geopolitics and AI. The bank returned $1.1 billion to shareholders and maintained a $1.00 dividend, per the document.

Beyond the quarter, a longer-cycle backdrop continues to percolate. Torsten Slok, chief economist at Apollo Global Management, highlights a “Global Industrial Renaissance,” pointing to nearly 200 U.S. factory completions since mid-2023 and a $590 billion pipeline of advanced-manufacturing projects. That build-out tends to spill over into industrial real estate, private credit and hiring—key channels that can broaden market leadership when capital expenditures accelerate.

For investors, the early advance reflects a familiar mix: banks signaling steadier credit and operating leverage, chipmakers riding AI-linked capex despite policy frictions, and an industrial pipeline that may cushion growth. With haven gold and oil both firmer, the opening tape suggests risk appetite is improving even as macro crosscurrents persist.