Stocks start higher as bank earnings boost sentiment

|By:, SA News Editor

Stocks open higher as the start of earnings season shoves aside tariff talk and geopolitics; S&P and Dow both +0.3%, Nasdaq +0.2%.

JPMorgan Chase, Citigroup and Wells Fargo all reported quarterly earnings and revenue that beat analyst expectations, but shares already have surrendered opening gains and are now -0.6%, -0.9% and -1.5%, respectively.

European bourses are higher, with Germany's DAX +0.6%, France's CAC +0.3% and U.K.'s FTSE +0.1%; in Asia, Japan's Nikkei finished +0.6% but China's Shanghai Composite closed -0.7%.

In other corporate news, Broadcom +3.5% after unveiling a $12B stock repurchase plan, and Qualcomm +2.5% following reports that former Chairman Paul Jacobs could make a bid for the company in the next few months.

The tech sector is the top early performer (+0.7%), while financials (-0.2%) are lower.

U.S. Treasury prices edge lower, pushing yields higher across the curve; the benchmark 10-year yield is up a basis point at 2.84%, while the yield on the two-year note hits 2.37%, its highest level since September 2008.

U.S. WTI crude futures +0.5% at $67.43/bbl, extending its week-to-date gain to ~8.6%.

Still ahead: consumer sentiment, Job Openings and Labor Turnover Survey

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