US mkts gain on positive earnings

CNBC's Margaret Brennan- JP Morgan Chase, Wells Fargo and Intel reported earnings better than what Wall Street had expected, and that led us to a triple digit gain on the Dow up 256 points on the day, the Nasdaq added 64 points.

Quarterly earnings after the bell were released by IBM and Ebay beating analyst’s forecasts, stirring the trading day. Financial stocks rallied after JP Morgan Chase reported quarterly results, not one as bad as expected, first quarter profit was down 50%, but investors came into the market bending on the bottom or at least to lower in financial shares and pushed that stock up 6.7%, in Wednesday’s session.

A similar story in Wells Fargo was reported, a 11% drop in first quarter profits. Crude oil hit another high of USD 114.93/bbl on a surprise draw in oil stocks and declining gasoline inventories.