JP Morgan, Intel Lead Stocks Higher
Stocks rallied on Wednesday after JP Morgan Chase and Intel reported better-than-expected earnings. The Labor department reported consumer prices rose 0.3% in March and core-consumer prices rose 0.2%.
The Dow rose +256.80, the Nasdaq Composite +64.07 and the S&P 500 +30.28.
JP Morgan Chase
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PowerRating) reported first quarter earnings of $0.68, beating estimates by $0.04.
Intel
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PowerRating) also beat estimates by $0.04 and issued Q2 guidance in-line.
Shares of Wells Fargo
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PowerRating) rose after the company reported earnings that were not as bad as expected.
comScore reported the number of people clicking Google’s paid search ads fell for the third straight month. Google
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PowerRating) is scheduled to report earnings after the close on Thursday.
Crude oil hit a record high and the U.S. dollar fell to a record low versus the euro.
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