The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks advanced Friday after two of the nation’s biggest banks reported earnings that beat expectations.
The Dow Jones Industrial Average rose 269 points, or 1.03%, to 26412. The S&P 500 climbed 0.66% and the tech-heavy Nasdaq Composite added 0.46%. The S&P 500 is up 0.4% for the week, with the broad index and the Dow industrials both sitting within 2% of their records.
Financial stocks in the S&P 500 led the market higher Friday, climbing 1.6% as earnings season kicked off. Shares of JPMorgan Chase jumped 4.1% after the nation’s largest bank by assets said its profit rose 5% and topped analysts’ expectations on the strength of its consumer bank. Meanwhile, Wells Fargo , the fourth largest in the U.S. by assets, said that first-quarter profit rose, though revenue continued to decline across all of its businesses. Shares of Wells Fargo fell 3.1%.
Investors are looking ahead to next week’s batch of quarterly earnings results, which includes more big-bank results from Goldman Sachs , Citigroup , Bank of America and Morgan Stanley . Health-care company Johnson & Johnson and video-streaming giant Netflix are also on tap. Profits at companies in the S&P 500 are projected drop 4.3% in the first quarter from a year ago, according to FactSet.
In Friday’s action, Chevron shares fell 5.3% after the multinational energy company agreed to buy Anadarko Petroleum in a cash-and-stock deal valued at roughly $33 billion as the company looks to strengthen its market positions in large shale projects. Anadarko’s shares soared 32%, on pace for their biggest percentage increase on record based on data going back to 1986, according to Dow Jones Market Data.
Walt Disney shares jumped 11% to $129.31 to a new high after the company updated investors on plans for its new streaming service Disney+.
U.S. 10-year Treasury yields climbed to 2.558%, according to Tradeweb, from a close of 2.498% Thursday. Yields rise when bond prices fall.
Elsewhere, the Stoxx Europe 600 rose 0.2%. In Asia, Chinese stocks were down slightly in Shanghai and Shenzhen.
The WSJ Dollar Index, which measures the dollar against a basket of other currencies, edged down 0.2%.
Elsewhere, the Stoxx Europe 600 rose 0.2%. In Asia, Chinese stocks were down slightly in Shanghai and Shenzhen.
Of the eleven S&P 500 Sectors, only one Healthcare was in the red today.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-04-12/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/dow-set-for-triple-digit-gain-as-china-trade-data-buoys-stock-market-amid-bank-earnings-2019-04-12/printWSJ:
https://www.wsj.com/articles/global-stocks-waver-ahead-of-bank-earnings-reports-11555056886?mod=hp_lead_pos1Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-11/asia-stocks-set-for-gains-dollar-pushes-higher-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-romps-thanks-to-disney-4-key-dow-stocks/Reuters:
https://uk.reuters.com/article/us-usa-stocks/gains-in-walt-disney-bank-shares-buoy-wall-street-idUKKCN1RO1D0CNBC:
https://www.cnbc.com/2019/04/12/stock-market-wall-street-earnings-in-focus-amid-economic-concerns.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-up-as-financials-miners-lead-charge-plus500-tanks-idUKKCN1RO0TXEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-end-higher-boosted-by-banks-and-auto-stocks-idUSKCN1RO0RUAsia:
https://www.marketwatch.com/story/asia-stocks-open-mixed-once-again-in-thrall-to-us-china-trade-jitters-2019-04-11/printBonds:
https://www.cnbc.com/2019/04/12/us-bonds-global-growth-worries.htmlCurrencies:
https://www.cnbc.com/2019/04/12/forex-markets-us-data-commodity-currencies-in-focus.htmlOil:
https://www.cnbc.com/2019/04/12/oil-markets-opec-supply-cuts-us-sanctions-in-focus.htmlGold
https://www.cnbc.com/2019/04/12/gold-markets-dollar-us-economic-data-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
