Stocks Opened Higher amid Bank Results

U.S. stock climbed at the open on Tuesday, as JPMorgan Chase & Co. reported profit and revenue for the fourth quarter. The Dow Jones Industrial Average lately climbed 33.80 points, or 0.14%, to 23,943.64. The S&P 500 advanced 14.30 points, or 0.55%, to 2,596.91. The Nasdaq Composite gained 73.70 points, or 1.07%, to 6,979.61.

Oil futures prices moved higher Tuesday. West Texas Intermediate crude for February delivery rose 80 cents, or 1.6%, to $51.31 a barrel. March Brent crude rose 89 cents, or 1.5%, to $59.88 a barrel.

JPMorgan Chase & Co. said Tuesday that fourth-quarter profit rose by two-thirds despite a volatile trading environment. The bank reported a profit of $7.07 billion, or $1.98 a share. JPMorgan’s trading revenues decreased 5.7% to $3.17 billion from about $3.37 billion a year earlier.

Netflix (NFLX) is raising prices from 13%-18% on its U.S. plans. This is the largest price hike in the company’s 12 year history. The streaming giant’s most popular plan that is currently priced at $11 per month will increase to $13 per month, while the basic plan will jump from $8 to $9. Netflix’s most expensive plan will rise from $14 to $16 per month.

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