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Dow Jumps Triple Digits as JP Morgan, Chevron Boost Bulls At Investing.com



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Investing.com – U.S. stocks traded higher just after the open as JP Morgan set the stage for what could be a positive surprise for first-quarter earnings and Chevron's multibillion-dollar acquisition restored confidence that equities had further to go despite a slowing economy. [9659004] At 9: 33 AM ET (13:33 GMT), the gained 223 points, or 0.9%, that 26,366.07 points, the rose 16 points, or 0.6%, two 2,904.74 points, while the traded up 40 points, or 0.5%, two 7,987.41

points JP Morgan (NYSE 🙂 saw shares jump 3.6% after the largest US bank by assets smashed consensus with. The positive start to the first-quarter reporting period eases concerns about what is expected to be, according to FactSet, the first decline in S&P 500 earnings in nearly three years.

Wells Fargo (NYSE 🙂 supported the positive view of financial sector with its own, while PNC Financial (NYSE 🙂 was the laggard in the group, but still.

Chevron (NYSE 🙂 also boosted sentiment as it offered to shell out a cool (NYSE :). The blue-chip oil company saw shares slump 4.8%, setting them at the bottom of the Dow. But shares of its target surged more than 30%.

Apart from JP Morgan, other components component stepped up on Friday to outweigh Chevron's decline and the blue-chip index higher.

Walt Disney (NYSE 🙂 stock led advancers on the Dow, surging 10.2% after the company announced its new streaming service and priced its offering below Netflix's (NASDAQ 🙂 basic fee.

Boeing (NYSE 🙂 also had positive news for the markets, with shares up 1%, after CEO Dennis Muilenburg said that in 96 test flights.

Corporate results aside, the health of the US consumer will dominate Friday's economic calendar. The University of Michigan will release its preliminary measure of April consumer confidence at 10:00 AM ET (14:00 GMT).

The is expected to edge down to 98.1, following two-straight months of gains above expectations, according to economist forecasts compiled by Investing.com

Outside of equities, which measures the greenback against six rival currencies, fell 0.4% to 96.43 at 9:37 AM ET (13:37 GMT), while the advanced 4.5 basis points to 2.55%.

In commodities, edged forward 0.1% to $ 1,294.45 a troy ounce, while traded up 1% at $ 64.19 a barrel.

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