U.S. stocks open higher despite Middle East tensions as bank earnings boost Dow

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Joseph Adinolfi is a markets reporter at MarketWatch.

U.S. stocks opened higher on Friday, as investors absorbed earnings reports from JPMorgan Chase & Co. and other big Wall Street banks and financial institutions, while oil prices surged as investors monitored escalating tensions in the Middle East.

JPMorgan Chief Executive Jamie Dimon said the bank delivered “solid” results amid a tough macroeconomic backdrop now complicated by another war. But he also delivered some more ominous commentary about markets and the economy.Citigroup Inc. C, +2.20% shares rose after the bank said its third-quarter profit edged up 2% to $3.546 billion. Of the major financial institutions reporting on Friday, only BlackRock Inc. BLK, -0.

Investors are expected to see a fourth-straight quarter of earnings declines overall for the S&P 500 index companies, with third-quarter per-share profit collectively expected to decline 0.3% compared with the same period a year prior, according to FactSet. The United Nations has warned that such an evacuation was not just impossible, but disastrous. The development comes nearly a week after an attack on Israel that has left more 2,800 people dead on both sides of the conflict.

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