US close: Stocks higher as Q1 bank earnings roll in
14th Apr 2026 22:14
(Sharecast News) - Major indices closed higher on Tuesday as market participants looked past a breakdown in Middle East peace talks to thumb over a number of big name bank earnings and March's producer price index.
At the close, the Dow Jones Industrial Average was up 0.66% at 48,535.99, while the S&P 500 advanced 1.18% to 6,967.38 and the Nasdaq Composite saw out the session 1.96% firmer at 23,639.08.
The Dow closed 317.74 points higher on Tuesday, extending gains recorded in the previous session after Donald Trump claimed the US had been "called by the other side" and that Iran would "like to make a deal very badly".
Outside of further developments in the US and Israel's conflict with Iran, Tuesday's primary focus was first quarter earnings from a number of major US banks, with Citigroup posting a 42% rise in first‑quarter profit on Tuesday, lifted by heightened market volatility and stronger investment‑banking activity as geopolitical tensions fuelled sharp price swings across asset classes, while BlackRock reported better‑than‑expected first‑quarter results on Tuesday, even as the world's largest asset manager reported a slight dip in assets under management.
JPMorgan Chase posted Q1 results that topped Wall Street expectations on stronger-than-expected fixed income and investment banking revenue, while Wells Fargo reported better-than-expected first-quarter earnings of $5.25bn despite revenue growth of 6% to $21.4bn missing forecasts.
On another note, pharmaceutical and medical tech giant Johnson & Johnson raised its 2026 outlook on Tuesday after first-quarter results marginally beat Wall Street estimates on the back of strong growth from its oncology drug portfolio.
On the macro front, US producer prices increased less than expected in March, according to the Bureau of Labor Statistics, with the producer price index for final demand increasing 0.5% on the month, matching February's gain and following a 0.6% rise in January. On an unadjusted basis, final demand prices were up 4.0% in the year ended 31 March - the strongest annual increase since February 2023.
The monthly rise was driven by a 1.6% increase in final demand goods, the largest since August 2023, while prices for final demand services were unchanged. Excluding food, energy and trade services, the core index rose 0.2% in March after two consecutive 0.5% increases. Core prices were up 3.6% year‑on‑year, matching the fastest pace since November 2025. Energy costs were the main driver of goods inflation, with final demand energy prices jumping 8.5%. Gasoline surged 15.7%, accounting for nearly half of the overall increase, diesel fuel, jet fuel, heating oil, meats and primary basic organic chemicals prices also rose.
Elsewhere, the National Federation of Independent Businesses' small‑business confidence weakened in March, falling to 95.8 - down from 98.8 in February for its lowest reading since April 2025. The index now sits under its 52‑year average of 98, with NFIB chief economist Bill Dunkelberg saying the sharp rise in oil prices had unsettled both consumers and business owners, forcing firms to absorb higher input costs and pass them on to customers.
The uncertainty index rose four points to 92, well above its long‑term average of 68, while reports of positive profit trends dropped 11 points to a net ‑25%, and the net share of owners expecting better business conditions fell seven points to 11% - the third monthly decline and the weakest level since October 2024.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $393.11 5.67%
Nike Inc. (NKE) $44.20 3.01%
Goldman Sachs Group Inc. (GS) $909.63 2.11%
Walt Disney Co. (DIS) $102.59 1.39%
Cisco Systems Inc. (CSCO) $82.61 1.08%
International Business Machines Corporation (CDI) (IBM) $240.27 1.03%
American Express Co. (AXP) $326.96 0.97%
Johnson & Johnson (JNJ) $240.10 0.90%
Boeing Co. (BA) $223.77 0.73%
Visa Inc. (V) $311.37 0.64%
Dow Jones - Fallers
Chevron Corp. (CVX) $187.02 -2.48%
Dow Chemical Co. (DOW) $39.16 -2.37%
Salesforce.Com Inc. (CRM) $171.31 -0.87%
JP Morgan Chase & Co. (JPM) $311.12 -0.82%
Coca-Cola Co. (KO) $75.90 -0.67%
Travelers Company Inc. (TRV) $299.59 -0.57%
McDonald's Corp. (MCD) $303.22 -0.42%
Apple Inc. (AAPL) $258.83 -0.18%
Merck & Co. Inc. (MRK) $119.96 -0.16%
3M Co. (MMM) $152.55 -0.16%
S&P 500 - Risers
Micron Technology Inc. (MU) $465.66 11.57%
American Airlines Group (AAL) $12.13 10.58%
Cadence Design Systems Inc. (CDNS) $292.37 9.66%
Expedia Group Inc. (EXPE) $248.57 9.38%
Synopsys Inc. (SNPS) $418.80 7.48%
Align Technology Inc. (ALGN) $184.69 7.38%
Illumina Inc. (ILMN) $130.32 7.22%
Seagate Technology Plc (STX) $533.44 6.95%
Delta Airlines Inc. (DAL) $71.70 6.94%
Alaska Air Group Inc. (ALK) $42.62 6.63%
S&P 500 - Fallers
Carmax Inc. (KMX) $41.66 -15.12%
Fastenal Co. (FAST) $44.62 -7.37%
Apache Corp. (APA) $37.03 -6.21%
Wells Fargo & Co. (WFC) $81.70 -5.70%
Occidental Petroleum Corp. (OXY) $55.38 -4.62%
Celanese Corp. (CE) $65.10 -4.57%
Helmerich & Payne Inc. (HP) $34.11 -4.56%
Devon Energy Corp. (DVN) $45.25 -4.27%
Akamai Technologies Inc. (AKAM) $88.84 -4.21%
Coterra Energy Inc. (CTRA) $31.67 -4.06%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $465.66 11.57%
American Airlines Group (AAL) $12.13 10.58%
Cadence Design Systems Inc. (CDNS) $292.37 9.66%
Expedia Group Inc. (EXPE) $248.57 9.38%
JD.com, Inc. (JD) $31.25 9.04%
Synopsys Inc. (SNPS) $418.80 7.48%
Align Technology Inc. (ALGN) $184.69 7.38%
Illumina Inc. (ILMN) $130.32 7.22%
Baidu Inc. (BIDU) $118.23 7.18%
Seagate Technology Plc (STX) $533.44 6.95%
Nasdaq 100 - Fallers
Fastenal Co. (FAST) $44.62 -7.37%
Kraft Heinz Co. (KHC) $22.11 -2.81%
Costco Wholesale Corp. (COST) $974.80 -2.22%
Charter Communications Inc. (CHTR) $215.57 -1.98%
Check Point Software Technologies Ltd. (CHKP) $134.78 -1.40%
Mondelez International Inc. (MDLZ) $57.84 -1.40%
T-Mobile Us, Inc. (TMUS) $190.00 -1.31%
PACCAR Inc. (PCAR) $125.43 -1.17%
Applied Materials Inc. (AMAT) $395.64 -0.65%
Apple Inc. (AAPL) $258.83 -0.18%