S&P 500, Nasdaq Rise With Growth Stocks; JPMorgan a Drag

NEW YORK—The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market. The S&P 500 briefly added to gains following the release of minutes from the September Federal Reserve policy meeting. U.S. central bankers signaled they could start reducing crisis-era support for the economy in mid-November, though they remained divided over how much of a threat high inflation poses and how soon they may need to raise interest rates, the minutes showed. Earlier, a Labor Department report showed consumer prices increased solidly in September, further strengthening the case for a Fed interest-rate hike. Shares of JPMorgan Chase & Co. fell 2.6 percent even though JPMorgan’s third-quarter earnings beat expectations, helped by global dealmaking boom and release of more loan loss reserves. The stock declined along …

Originally appeared on The Epoch Times

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