US stock markets jump thanks to JPMorgan’s strong earnings report

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U.S. stocks rose, sending the Standard & Poor’s 500 Index toward its second day of gains, as better-than-expected earning from JPMorgan Chase & Co. (JPM) and improving data on jobs and retail sales overshadowed concerns America’s credit rating may be downgraded.

JPMorgan advanced 3.5 percent after the second-biggest U.S. bank said net income rose 13 percent. ConocoPhillips, the third- largest U.S. oil company, rallied 7 percent after saying it will split into two separate companies. Yum! Brands Inc. climbed 2.7 percent as profit increased.

Full Story: U.S. stocks gain on JPMorgan earnings