Market Update: C, PNC

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Stocks rose on Monday morning as investors prepared for a heavy week of 3Q earnings reports and continued to weigh developments in the Israel-Hamas war. Charles Schwab shares rose strongly following mixed results as adjusted EPS came in slightly above the consensus forecast but still fell 30% from the prior year. Pfizer shares also rose after the company announced a substantial cost-cutting program amid sharply lower sales of its COVID vaccine and antiviral therapy Paxlovid. The Dow rose 1.0%, the S&P 1.1%, and the Nasdaq 1.2%. Crude oil fell 1% to $87 per barrel while gold fell $12 to trade near $1930 per ounce.

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