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Stock Market Today: Dow ekes out gain for weekly win amid strong bank earnings

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Stock Market Today: Dow ekes out gain for weekly win amid strong bank earnings

Investing.com – The Dow eked out a gain to end the week higher Friday, as Wall Street banks kicked off the earnings season with better-than-expected quarterly results, though investors had to contend with a bout of volatility amid rising geopolitical tensions.JPMorgan rose more than 2% after reporting a 35% jump in earnings for third quarter, underpinned by a surge in rates that bolstered its retail banking unit's profits.

"Focus on the earnings picture – it is what drives stocks, not geopolitics, not rates, not talking heads – earnings and if earnings are fine then stocks can rise without multiple expansion. As we have discussed, the ROW offers room for both EPS growth & multiple expansion," Jim Bianco of Bianco Research president said in a note.Energy stocks rose more than 2% following a surge in oil prices after the U.S.

 

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