Wall Street turns to gains as investors digest earnings

Friday, 13. January 2023 20:09

Major stock equities in New York turned to gains after starting the session below the flatline on Friday, following the upward trend that dominated this week's trading. The markets erased previously recorded losses, prompted by the latest batch of earnings.

JPMorgan Chase & Co. posted better-than-expected earnings for the final trimester, registering a $34.55 billion revenue and a net income of $11 billion. The American bank pushed the Dow Jones Industrial Average into the positive territory as its best performer, rising 2.40% at 2:03 pm ET. Citigroup Inc., Delta Air Lines, and the Bank of America Corporation (BofA) also reported their financial results for the final quarter.

The Dow Jones Industrial Average climbed 0.12% at 2:06 pm ET. The Nasdaq 100 and the S&P 500 rose by 0.25% and 0.11% respectively at the same time. The euro dropped 0.20% against the dollar, to change hands to $1.08309 a minute later.

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