U.S. Stocks Open Higher After Upbeat Bank Earnings

By Anora MahmudovaMarketsMarketWatch Pulse

U.S. stocks opened slightly higher Friday as investors were relieved by bank earnings results and economic data. J.P. Morgan Chase & Co and Bank of America Corp earnings beat expectations, though Wells Fargo & Co earnings and revenues were lower than expected. Retail sales in the fourth quarter rose by 0.6%, while producer prices inched up by 0.3%. The main indexes were set to book weekly losses, however. The S&P 500 opened up 3.8 points, or 0.2%, at 2,274, hovering near all-time highs. The Nasdaq Composite began the session up 10 points, or 0.2% higher at 5,557. The Dow Jones Industrial Average added 37 points or 0.2%, to 19,927.

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