PARIS, Oct 14 (Reuters) – The New York Stock Exchange moved in mixed order on Friday after the mixed results of the big American banks while the latest statements by the Russian president seemed to allay concerns linked to the war in Ukraine.
In early trading, the Dow Jones index gained 230.95 points, or 0.77%, to 30,269.67 points and the broader Standard & Poor’s 500 rose 0.32% to 3,681.82 points.
The Nasdaq Composite lost 0.02%, or 2.262 points, to 10,646.89.
The indices benefited at the opening of the declarations of Vladimir Putin, announcing, during a press conference at the end of a summit in Kazakhstan, that Russia was not seeking to destroy Ukraine and that a new mobilization of reservists was not on the agenda.
But the effect of these words is already starting to wear off.
The start of the earnings season focuses the attention of investors, worried about the impact of inflation and the Fed’s monetary policy tightening on corporate profits.
JPMorgan Chase & Co gained 4.35% after posting a profit above expectations and Wells Fargo took 5.03%, despite a lower profit due to an increase in the cost of risk.
Morgan Stanley dropped 2.64% after announcing a drop in profit as the slowdown in transactions impacted its investment banking activities.
Excluding results, Kroger lost 1.84% after the announcement of the acquisition of rival Albertsons Companies (-5.50%) for an amount of 24.6 billion dollars.