Stocks climb at the open after upbeat big-bank earnings: Stock market news today

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  Consumer sentiment tumbles in October

  Sticky inflation, rising yields and a slumping stock market are taking a toll on how consumers feel about the current state of the US economy.

  The first October reading of the University of Michigan Consumer Sentiment Index showed a reading of 63, down from 68.1in September. The 7% drop was the largest one month move downward since the regional banking crisis faced consumers in March.

  After several sticky inflation reports, Americans aren’t feeling as bullish about inflation’s path downward, either. One year-inflation expectations are now for prices to grow 3.8% over the next year. Last month consumers had projected inflation of 3.2%.

  “Assessments of personal finances declined about 15%, primarily on a substantial increase in concerns over inflation, and one-year expected business conditions plunged about 19%,” Surveys of Consumers Director Joanne Hsu said in the survey release.

• Stocks trending in morning trading

  Here are some of the stocks leading Yahoo Finance’s trending tickers page in morning trading on Friday:

  Broadcom (AVGO): Shares of the semiconductor company continued their climb Friday morning, rising 0.8%, following news that Broadcom’s acquisition of the cloud computing company VMware (VMW) is likely to be approved by Chinese officials.

  Boeing (BA): The aerospace and defense giant lost 3% during morning trading after a report that the plane maker is expanding inspections of production flaws in the 737 Max aircraft, which could further delay deliveries of the jet.

  JPMorgan (JPM): Shares gained 4% on Friday morning after a strong earnings report showed that profits surged in the third quarter. Wells Fargo (WFC) and Citigroup (C) also beat earnings estimates.

  UnitedHealth (UNH): Shares were up over 2% after it reported a third-quarter profit on Friday that beat analysts’ estimates on lower-than-expected medical costs.

• Stocks open higher as earnings season kicks off

  Wall Street rang in the day with optimism as investors parsed strong earnings from big banks, kicking off earnings season.

  The S&P 500 (^GSPC) edged higher by about 0.5%, while the Dow Jones Industrial Average (^DJI) increased nearly 0.6% or roughly 180 points.The tech-heavy Nasdaq Composite (^IXIC) gained 0.3%.

• JPMorgan, UnitedHealth, and BlackRock: Stocks trending in premarket trading

  Here are some of the stocks leading Yahoo Finance’s trending tickers page in premarket trading on Friday:

  JPMorgan (JPM): Shares were up 1% on Friday after earnings. Profits surged in the third quarter.

  UnitedHealth (UNH): Shares were up over 1% after it reported a third quarter profit on Friday that beat analysts’ estimates.

  BlackRock (BLK): Shares fell over 1%. The investment bank beat third quarter profit estimates on Friday but posted a sharp drop in net inflows.

  JD.com (JD): Shares in JD.com fell 4% as investors turned bearish on the stock and “rumors swirled that a businessman with the same surname as the company’s chairman had been arrested,” according to Bloomberg.

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  Stock futures steady as big bank earnings roll in

  US stocks were broadly unchanged before the bell on Friday, paring earlier losses after JPMorgan and other Wall Street lenders posted healthy third quarter results.

  Futures on the Dow Jones Industrial Average (^DJI) hovered just above the flatline, while S&P 500 (^GSPC) futures traded just below it. Contracts on the tech-heavy Nasdaq 100 (^NDX) were 0.3% lower.

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  Stock futures drop with focus on big bank earnings

  The major US stock gauges were trending lower on Friday, as BlackRock’s results led out the stream of Wall Street bank earnings expected to land.

  Futures on the Dow Jones Industrial Average (^DJI) were down 0.16%, or 53 points, while S&P 500 (^GSPC) futures lost 0.32%. Contracts on the tech-heavy Nasdaq 100 (^NDX) were 0.56% lower.

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