Published October 12, 2012
NEW YORK – U.S. stocks opened flat on Friday as investors digested results from a pair of major banks and data showed inflation pressure remained in check.
Shares of JPMorgan Chase and Wells Fargo & Co both fell after their results, even though JPMorgan posted record profits. Wells Fargo dropped 4 percent to $33.77 while JPMorgan was off 1.8 percent at $41.33.
The Dow Jones industrial average was up 17.07 points, or 0.13 percent, at 13,343.46. The Standard & Poor's 500 Index was down 0.30 points, or 0.02 percent, at 1,432.54. The Nasdaq Composite Index was down 0.09 points, or 0.00 percent, at 3,049.32.
(Reporting by Ryan Vlastelica; Editing by Theodore d'Afflisio)