US STOCKS-Wall Street flat as biotechs bounce, JPMorgan drags

viernes 11 de abril de 2014 11:17 GYT
 

* JPMorgan falls, Wells Fargo gains after results

* Producer prices post largest increase in nine months

* UMich consumer sentiment index hits nine-month high

* Gap shares fall after March sales

* Dow off 0.18 pct, S&P up 0.11 pct, Nasdaq up 0.28 pct (Updates to open, adds data)

By Chuck Mikolajczak

NEW YORK, April 11 (Reuters) - U.S. stocks were little changed on Friday, as biotech stocks staged a rebound from a selloff in the prior session, but disappointing earnings from JPMorgan curbed gains.

JPMorgan Chase & Co shares fell 3 percent to $55.66 as the biggest drag on the S&P 500 after it reported a far weaker-than-expected quarterly profit as revenue from securities trading fell. The S&P financial index lost 0.7 percent as the worst performing S&P sector.

"That's not helping matters," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York. "At the moment that is going to prevent us from really rallying, if anything it is going to cause more pressure as we go into the end of the day."   Continuación...