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Wall Street rallies on earnings; Nasdaq hits record
US stocks rallied on Thursday, with the Nasdaq closing at a record, as a round of solid earnings led by American Express pushed equities higher. The credit card company closed up 5.9 percent as the top boost to the Dow Industrials after reporting a smaller-than-expected drop in quarterly profit late Wednesday.
CSX Corp, up 5.6 percent, was one of the best performers on the S&P 500 after the railroad reported a better-than-expected quarterly net profit driven by rising freight volumes and said it plans to cut costs and boost profitability moving forward.