Bank Earnings, Retail Data Digested By US Stock Markets

Investors were split on Friday morning as a review of retail sales figures for the first quarter of the year was weighed against stronger-than-expected corporate data, according to Wall Street.

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As the Federal Reserve has raised interest rates for the second time in a row, retail sales in the United States tumbled by one percent in March, while analysts warn that the full impact of last month's banking sector turmoil has yet to be felt in this year's retail sales.

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According to analysts, one of the largest issues that could affect consumers in the near future will be a tightening of banks' lending standards, which in turn could limit the availability of credit to households.

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Within the first 10 minutes of trading, the Dow Jones Industrial Average gained 0.1 percent to 34,048.97, while the S&P 500 rose to 4,152.62, increasing by 0.2 percent.

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Nonetheless, the Nasdaq Composite Index, which is heavily weighted toward technology, dropped 0.1 percent to 12,158.72.

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According to JPMorgan Chase, its first-quarter profits jumped despite recent sector upheaval.

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In the case of bad loans, the bank added $1.1 billion in reserves as well as warning of a possible economic downturn.

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Having been able to charge more for loans in a rising interest rate environment, JPMorgan's results were boosted by much higher net interest income.

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