Stocks rose on Thursday as JPMorgan's
A decline in the shares of energy companies, however, limited the gains of the Dow Jones industrial average.
Shares of JPMorgan climbed almost 2 percent to $33.11, while those of Citigroup
On the technology front, shares of Hewlett-Packard
On Nasdaq, Apple Inc
So far we've had some encouraging news, at least they're stable and we've got some banks that are making money, said Frank Lesh, futures analyst and broker at FuturePath Trading LLC in Chicago. Some of these better-than-expected situations with the banks hold the market up.
The Dow Jones industrial average <.DJI> gained 7.64 points, or 0.10 percent, to 8,037.26. The Standard & Poor's 500 Index <.SPX> added 4.22 points, or 0.50 percent, to 856.28. The Nasdaq Composite Index <.IXIC> rose 22.24 points, or 1.37 percent, to 1,649.04.
Optimism in the technology sector received a boost from cell phone maker Nokia's
Aside from JPMorgan in the financial sector, Regions Financial
HP shares rose after Citigroup wrote that the company's quarter was tracking ahead of guidance and consensus. Google, the Web Search leader, is due to post quarterly results after the bell. The mean estimate of analysts polled by Reuters is for earnings of $4.93 a share and revenue of $5.53 billion in the quarter.
Also boosting sentiment were stronger-than-expected quarterly results from Harley-Davidson Inc
On the downside, shares of Chevron Corp
Downbeat broker comments weighed on American Express
The day's economic data provided a mixed picture. The Philadelphia Federal Reserve's survey of regional manufacturing showed a less drastic contraction, while the Commerce Department data showed housing starts fell 10.8 percent to a seasonally adjusted annual rate of 510,000 units, the second lowest on record dating back to 1959.
(Additional reporting by Leah Schnurr)
(Editing by Theodore d'Afflisio)