Wall Street opens with slight rises after the good results of the big banks

Wall Street opened this Friday with slight rises and the Dow Jones Industrials, its main indicator, gained 0.14% after the large US bank announced better-than-expected quarterly results.

Twenty minutes after the start of operations, the Dow Jones stood at 34,078.24 points, while the selective S&P 500 rose 0.32% to 4,159.47 units.

The composite index of the Nasdaq market, in which the main technology companies are listed, rose 0.14% and stood at 12,183.50 integers.

After closing Thursday with clear gains, Wall Street began today’s session practically flat and oscillating between red and green.

This Friday the market awaited the quarterly accounts of several of the large US banks, which posted results above expectations after the recent turmoil in the financial sector.

JPMorgan Chase, the largest bank by assets in the United States, obtained a net profit of 12,622 million dollars (11,418 million euros) in the first quarter of the year, 52% more year-on-year, with record revenues of 38,000 million.

Wells Fargo earned US$ 4,991 million, 32% more than in the same period last year, while Citigroup had a profit of 4,606 million dollars, 7% more.

Banks, which have benefited in recent months from rising interest rates, were pulling the market today with the financial sector (1.5%) leading the gains. At this time, JPMorgan Chase was shooting up more than 7 %, while Citigroup gained 4.21% and Wells Fargo 0.63%.

The BlackRock investment fund, which also released its accounts today, for its part advanced a solid 4.27%.

The other factor that dominated the session today, according to analysts, was consumption data in the United States that showed a significant drop in spending during the month of March.

At this time, all sectors were in the green, except public services (-0.6%) and health (-0.1%).

Among the thirty Dow Jones values, in addition to the strong rise in JPMorgan Chase, the gains of Goldman Sachs (2.10%) and Caterpillar (1.70%) stood out, while the biggest losses were for Boeing (-6.62 %) after learning that the aeronautical giant has temporarily stopped deliveries of some 737 MAX due to a technical problem.