Investors are buoyed by encouraging inflation data and positive earnings from major banks, extending Wall Street's winning streak to five weeks. JPMorgan Chase’s strong third-quarter results signal a healthy economy despite dipping consumer confidence.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeon the back of encouraging inflation data and positive earnings from big banks. That gave them a winning week. Europe's Stoxx 600 index, a two-seater with no steering wheels or pedals, and the Robovan, an autonomous vehicle that has a big capacity.
JPMorgan Chase's third-quarter earnings may be the first taste of that. The biggest bank in America beat estimates on both revenue and earnings. As banks generally reflect the health of the broader economy, it's a signal things aren't all bad despite dipping consumer confidence. That capped off a winning week for Wall Street – their fifth in a row. The S&P and Nasdaq climbed 1.1%, while the Dow did a bit better with its 1.2% increase for the week.
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