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Mixed open on Wall Street; bank stocks rise

July 12, 2013

NEW YORK (AP) — Stocks are getting off to a mixed start on Wall Street a day after the market closed at a record high.

Bank stocks were mostly higher after JPMorgan Chase and Wells Fargo reported earnings that beat analysts’ expectations.

The Dow Jones industrial average was up 18 points, or 0.1 percent, to 15,478 after the first few minutes of trading Friday.

The broader Standard & Poor’s 500 index was little changed at 1,675.

The Dow and S&P closed at all-time highs the day before.

The Nasdaq composite edged up three points to 3,581.

UPS sank 5 percent to $87.23 after the package delivery company cut its forecast for second-quarter earnings as its customers choose cheaper shipping options.

The yield on the 10-year Treasury note fell to 2.54 percent from 2.57 percent.

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