US STOCKS-Banks drive Wall St gains after JPMorgan results

miércoles 13 de abril de 2016 11:31 GYT
 

* JPMorgan up after higher-than-expected profit

* China march exports above estimates

* U.S. retail sales fall unexpectedly in March

* Indexes up: Dow 0.70 pct, S&P 0.66 pct, Nasdaq 1.14 pct (Adds details, changes comment, updates prices)

By Abhiram Nandakumar

April 13 (Reuters) - Wall Street gained on Wednesday as JPMorgan's results kicked off bank earnings on an upbeat note and strong Chinese trade data raised hopes that the country's economy was on the mend.

Shares of JPMorgan were up 3.5 percent at $61.33 after the bank reported higher-than-expected quarterly earnings and revenue.

The results boosted the S&P financial sector, which was the biggest gainer among the 10 major S&P sectors. Bank of America rose 3.5 percent and Citigroup 4.5 percent.

Adding to the positive sentiment, data showed China's March exports handily beat expectations, rising for the first time in nine months. Global markets rallied following the data.   Continuación...