U.S. stocks open higher amid strong earnings
Xinhua,January 12, 2018 Adjust font size:
NEW YORK, Jan. 12 (Xinhua) -- U.S. stocks opened higher Friday, as Wall Street bet on a strong corporate earnings season.
Shares of JP Morgan Chase ticked up Friday, after the financial giant posted better-than-expected earnings.
The bank announced fourth-quarter 2017 net income of 4.2 billion U.S. dollars, or 1.07 dollars per share.
BlackRock and Wells Fargo also reported stronger-than-expected quarterly results.
The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the fourth quarter of 2017 are expected to rise 11.8 percent year on year, while the revenues are forecast to increase 6.9 percent.
On the economic front, the Consumer Price Index for all urban consumers increased 0.1 percent in December on a seasonally adjusted basis, the U.S. Labor Department reported Friday.
Shortly after the opening bell, the Dow Jones Industrial Average increased 108.44 points, or 0.42 percent, to 25,683.17. The S&P 500 rose 4.96 points, or 0.18 percent, to 2,772.52. The Nasdaq Composite Index was up 2.53 points, or 0.04 percent, to 7,214.30. Enditem