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Stockreport

Stocks head for strong weekly gains as earnings season kicks off [CNBC]

JP MORGAN CHASE (JPM)  More Company Research Source: CNBC
Last jp morgan chase earnings: 4/13 06:47 am Check Earnings Report
PDF show chapters U.S. stocks were on track to post strong weekly gains as the latest corporate earnings season began. The Dow Jones industrial average and S&P 500 are up more than 2.5 percent for the week, while the Nasdaq composite is up more than 3 percent in that time period. Citigroup, Wells Fargo and J.P. Morgan Chase all reported quarterly earnings and revenue that surpassed analyst expectations. Bank shares initially traded higher before slipping in midmorning trading, as the strong results were already priced in. The Dow traded 52 points higher after rising more than 150 points, while the S&P 500 and Nasdaq were up 0.25 percent and 0.1 percent, respectively. Expectations for this earnings season are high. According to FactSet, S&P 500 earnings are forecast to have grown by 17.1 percent last quarter. So far, the earnings season is off to a good start, according to Nick Raich, CEO of The Earnings Scout. In a note to clients, he sa [Read more]

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