S&P, Dow open higher as bank shares rise


The Dow Jones Industrial Average rose by 29 percent last year and the broader S&P 500 rose 22 percent, rare and breath-taking gains that simply can not be repeated every year. Visit MarketWatch.com for more information on this news.

Shares of JP Morgan rose 1.1 percent, helping lift the S&P financial index up 0.6 percent, after its fourth-quarter profit beat estimates.

While S&P 500 (SPX) and Dow Jones Industrials (DJIA) may be peaking out over the coming days, the Russell 2000 still looks early in this regard, and should be studied along with the others until some signs of confluence identify a broader market peak. The Nasdaq Composite dropped 6.13 points, or 0.08 percent, to 7,205.65.

Amazon rose 1.8 percent and provided the biggest boost to the S&P and the Nasdaq.

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Bank stocks also gained from a rise in Treasury yields after underlying US consumer prices for December posted their biggest gain in 11 months, signaling a pickup in inflation.

The S&P 500 is up 112.63 points, or 4.2 percent.

Sales at online retailers soared 1.2 percent. "A lot of these companies like Target and Home Depot are getting on with the internet ecosystem of e-commerce", said Josh Jalinski, president of Jalinski Advisory Group.

The Dow is up 507.32 points, or 2 percent. On the Nasdaq, 1,808 issues rose and 1,069 fell.