Mumbai, Oct. 16 -- The Dow edged down 17.15 points or less than a tenth of a percent to 46,253.31 but the S&P 500 rose 26.75 points (0.4%) to 6,671.06 and the Nasdaq climbed 148.38 points (0.7%) to 22,679.08.

Wall Street remained volatile as investors balanced strong corporate earnings with concerns over U.S.-China trade tensions and high market valuations. Morgan Stanley surged 4.7% and Bank of America jumped 4.4% after both reported third-quarter results that exceeded expectations while ASML gained on optimism for higher 2026 sales despite mixed results.

Economic data offered a mixed picture: the New York Fed reported a sharp rebound in October manufacturing activity, with its business conditions index rising to 10.7, beating expectat...