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Stock market jumps at the open, trades at multiweek high as bank earnings bolster sentiment

U.S. stock benchmarks have been trading across the best possible ranges in about 3 weeks on Friday, with anxieties surrounding industry and different executive insurance policies taking a again seat to upbeat financial institution earnings to unofficially kick off the first-quarter earnings season. The Dow Jones Industrial Average DJIA, +Zero.26% was up 145 issues, or Zero.6% at 24,638. The broad-market S&P 500 index SPX, +Zero.28% climbed Zero.6% at 2,679, while the Nasdaq Composite Index COMP, +Zero.14% complicated Zero.6% at 7,180. The Dow and the S&P 500 have been trading around their best possible ranges since March 21. As of Thursday, the Dow and S&P 500 have been each and every headed for weekly features of two.3%, while the Nasdaq is up 3.3%. Buying sentiment was fueled through earnings from JPMorgan Chase & Co. JPM, -Zero.60% which reported first-quarter earnings and revenue that crowned Wall Street estimates. Meanwhile, Citigroup Inc. C, -Zero.58% additionally reported earnings that crowned consensus forecasts, and revenue that was consistent with expectancies.