Stocks are climbing on Wednesday following strong profit reports from some of the world’s biggest names in banking and technology.

The S&P 500 rose 0.8%, coming off a roller-coaster day where it careened between a sharp loss and modest gain. The Dow Jones Industrial Average was up 254 points, or 0.5%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 1.1% higher.

UBS Global Wealth Management released a research note on Wednesday morning, citing the trend that early-reporting companies “tend to have a good relationship with how the rest of earnings season plays out.” With a little less than 10% of the S&P 500 market cap reporting, the team led by David Lefkowitz, Head of US Equities, characterized the results as “decent,” with 80% beating sales estimates and just over 70

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