U.S. stocks finished mixed on Wednesday against the backdrop of upbeat earnings from major banks.
The Dow Jones Industrial Average fell 17.15 points, or 0.04 percent, to 46,253.31. The S&P 500 gained 26.75 points, or 0.4 percent, to 6,671.06. The Nasdaq Composite Index rose 148.38 points, or 0.66 percent, to 22,670.08.
Seven of the 11 primary S&P 500 sectors advanced, with real estate and utilities leading the gainers, up 1.50 percent and 1.29 percent, respectively. Materials and industrials lagged, down 0.49 percent and 0.47 percent, respectively.
Lingering uncertainty from the U.S. federal government shutdown, now in its third week, has clouded investor sentiment. The closure has halted the release of key economic data from federal agencies, leaving traders without critical information.
Earlier in the session, equities received a boost from strong quarterly results from Bank of America and Morgan Stanley. Both lenders reported Q3 earnings that topped market expectations.
"It appears as if the banks have hit the ball out of the park, exceeding both earnings and revenue expectations," Chief Investment Strategist Sam Stovall at CFRA Research told CNBC. "That's an indication that the economy remains strong and, coupled with the likelihood that the Fed will cut rates again at the end of this month, (it) is bolstering investor optimism."
U.S. stocks close mixed amid strong bank earnings, U.S. gov't shutdown
A former television host from Taiwan, Zhai Xuan, has made a pivotal decision to leave mainstream broadcasting in order to create content that provides a better understanding of the Chinese mainland and cross-strait relations.
Zhai, a seasoned television host with over a decade of experience in Taiwan's media landscape, recently addressed an audience at an event in Beijing, where she revealed her complete transition into independent online media.
In her remarks, she articulated her aspiration to bridge what she perceives as a significant information gap between audiences on both sides of the Strait, highlighting her commitment to fostering a deeper understanding and connection through her new endeavors.
"I was really surprised by all the fake news. There were stories saying people on the mainland can't afford tea eggs or that they live in mud houses and in Taiwan, this was the main information many people received," said Zhai.
Zhai said she initially began producing online videos to challenge such perceptions while continuing her work as a television host.
In April 2025, she travelled to the mainland with her father to fulfill her late grandfather's wish to return to his hometown. The trip, which reunited family members separated since 1949, was recorded in a video series titled "Journey to Find Our Roots", drawing attention from viewers in both Taiwan and the mainland.
"Many people in Taiwan told me that after watching, they wanted to apply for a mainland travel permit immediately and go looking for their relatives. Some had long forgotten these things, but after seeing my story, they began thinking about their hometowns and family members they had never met and decided to search for their roots," Zhai shared her story at the event.
By mid-2025, Zhai said she began to feel increasing pressure amid rising political tensions and a tightening atmosphere around cross-Strait exchanges in Taiwan.
After more than 12 years in the industry, Zhai resigned from her position, believing it was the right thing to do.
"At that moment, I felt this was a major issue，not just for me, but for Chinese people on both sides of the Strait. If I backed down then, I wouldn’t be standing on the right side," said Zhai.
Since leaving television, Zhai has broadened her online programming to encompass a range of daily-life topics, including practical guidance on applying for a mainland travel permit and using commonly employed mobile applications, in addition to content that delves into historical memory and cultural connections across the Strait.
As the debate over cross-Strait relations continues in Taiwan, Zhai said she remains committed to her current path.
Former Taiwan TV host bridges cross-Strait divide via online media
