MARKETS: Stocks are broadly up on Wall Street in early trading as banks and media companies move higher.
Stocks are broadly higher on Wall Street in early trading as banks and media companies move higher.
JPMorgan Chase jumped 3.5% early Friday after reporting a solid increase in earnings, and Disney soared 10.5% after unveiling a new video streaming service to go up against Netflix. Netflix was off 3.1%. Chevron sank 4.6% after announcing a deal to buy Anadarko Petroleum for $33 billion. Anadarko skyrocketed 32.5% higher.The Dow Jones Industrial Average rose 256 points, or 1%, to 26,410. The Nasdaq rose 38 points, or 0.5%, to 7,985.
Bond prices fell sharply, sending yields higher. The yield on the benchmark 10-year Treasury rose to 2.55% from 2.50% late Thursday.
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