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Dow Ends Day Up 187

S&P 500, Nasdaq also close higher
By Newser Editors and Wire Services
Posted Apr 13, 2016 3:04 PM CDT

(Newser) – US stocks closed higher, led by gains in banks after JPMorgan Chase turned in results that weren't as bad as analysts anticipated. JPMorgan rose 4% Wednesday. Profits and revenue for the giant bank both fell in the first quarter, but not as much as forecast. Other banks also rose. Bank of America jumped 4% and Wells Fargo climbed 3%. Banks are still the worst-performing sector in the market this year. Investors worry that low interest rates and defaults from energy companies will hurt results at US lenders.

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The Dow Jones industrial average increased 187 points, or 1.1%, to 17,908, the AP reports. The Standard & Poor's 500 index added 20 points, or 1%, to 2,082. The Nasdaq composite rose 75 points, or 1.6%, to 4,947. (Read more Dow Jones stories.)

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