On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Caroline Hyde, Vonnie Quinn Tim Stenovec and Norah Mulinda.
- US banks were among several groups to surge following Federal Reserve chairman Jerome Powell's remarks at Jackson Hole. The KBW Bank Index jumped 3.2% closing at its first record since 2022.
- Zoom (ZM) shares soared after the company delivered a stronger-than-expected forecast, suggesting that customers are buying more of its expanded line of software products. The shares jumped 13% to $82.47 in New York on Friday, marking their biggest single-day gain since August 2024. The stock had been down 10% this year heading into the earnings report.
- Intuit (INTU) share sunk after the tax software company's tepid forecast overshadowed an otherwise strong fourth quarter report.
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