US stocks leap as JPMorgan gives banks a boost

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Source:   —  April 13, 2016, at 7:10 PM

S. stocks are rising in midday trading, led by gains in banks after JPMorgan Chase turned in results that weren't as horrible as analysts anticipated.

US stocks leap as JPMorgan gives banks a boost

U. S. stocks are rising in midday trading, led by gains in banks after JPMorgan Chase turned in results that weren't as horrible as analysts anticipated.

JPMorgan rose four.5 % wednesday. Profits and income for the giant bank both fell in the first quarter, but not nearly as much as forecast.

Other banks also rose. Bank of America jumped 4 % and Wells Fargo climbed two percent.

The Dow Jones industrial average increased one hundred fifty-three points, or 0.9 percent, to 17.873 as of 11:45 a. m. Eastern time.

The Standard & Poor's five hundred index added fifteen points, or 0.8 percent, to 2.077. The Nasdaq composite rose fifty-four points, or 1.1 percent, to 4.910.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.78 percent.

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