U.S. stocks jump to record highs amid strong earnings
Xinhua,January 13, 2018 Adjust font size:
NEW YORK, Jan. 12 (Xinhua) -- U.S. stocks traded higher on Friday, as Wall Street bet on a strong corporate earnings season.
By noon, the Dow Jones Industrial Average increased 168.49 points, or 0.66 percent, to 25,743.22. The S&P 500 rose 13.55 points, or 0.49 percent, to 2,781.11. The Nasdaq Composite Index was up 40.28 points, or 0.56 percent, to 7,252.06.
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 12.1 percent year on year, while the revenues are forecast to increase 7.0 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. Enditem