* Indexes up: Dow 0.47%, S&P 500 0.47%, Nasdaq 0.84%
* BlackRock ( BLK ) gains after profit rises
* Wells Fargo ( WFC ) falls after results, Citi touches highest
since 2008
* United, American Airlines ( AAL ) climb after merger pitch
(Updates after markets open)
By Niket Nishant and Avinash P
April 14 (Reuters) - Wall Street's main indexes advanced
on Tuesday after reports of fresh efforts to ease the Middle
East conflict boosted sentiment, while traders also assessed
earnings from big banks and corporates.
Delegations from the U.S. and Iran could resume talks in
Pakistan to end the war this week, sources told Reuters. U.S.
President Donald Trump also said that Iran wanted to make a
deal.
The market has been sensitive to developments in the region,
with even tentative signs of an off-ramp sufficient to encourage
investors eager for positive news.
At 09:41 a.m. ET, the Dow Jones Industrial Average
rose 227.05 points, or 0.47%, to 48,445.30, the S&P 500
gained 32.09 points, or 0.47%, to 6,918.33 and the Nasdaq
Composite gained 194.70 points, or 0.84%, to 23,378.44.
"Investors seem to be buying into the notion that it may
take a while, but there is an off-ramp in the future to this
war," said Art Hogan, chief market strategist at B Riley
Wealth.
The S&P 500 was on track to recoup all its losses
since the start of the war, while the Nasdaq 100 was set
for a 10-day winning streak, its longest since 2021.
Commentary from several Federal Reserve policymakers will be
closely watched through the day for insight into how the central
bank is assessing the impact of the U.S.-Iran war.
The International Monetary Fund cut its economic growth
outlook on Tuesday.
FOCUS ON EARNINGS FOR DIRECTION
A busy slate of quarterly earnings is also expected to guide
the market.
"The earnings season will help investors shift their focus
from the macro to the micro," Hogan said.
BlackRock ( BLK ) gained 4.2% after the asset manager
reported a rise in first-quarter profit, helped by strong
inflows into its exchange-traded funds and a sharp increase in
performance fees.
JPMorgan ( JPM ) edged up 0.1% following its first-quarter
results, while Wells Fargo ( WFC ) declined 5% after interest
income fell short of market expectations in the first quarter.
Citigroup ( C ) rose 1.9% to a near two-decade high after
beating estimates for first-quarter profit, while Johnson &
Johnson ( JNJ ) was flat after reporting earnings.
The benchmark's financial sector edged 0.3% higher,
and the consumer discretionary sector rose 1.8%,
leading gains.
Information technology stocks were the biggest boost on all
three indexes.
Among other stock movers, United Airlines and
American Airlines ( AAL ) rose 1% and 7%, respectively.
United Airlines CEO Scott Kirby pitched a potential merger
with American Airlines ( AAL ) to Trump in late February, two sources
said, raising the prospect of an industry-reshaping deal.
Shares of Globalstar ( GSAT ) jumped 9% after Amazon.com ( AMZN )
agreed to an $11.57 billion deal to buy the satellite
company.
Tuesday data showed that U.S. producer prices increased less
than expected in March, as the cost of services was unchanged.
Advancing issues outnumbered decliners by a 1.94-to-1 ratio
on the NYSE and by a 2.32-to-1 ratio on the Nasdaq.
The S&P 500 posted 18 new 52-week highs and no new lows,
while the Nasdaq Composite recorded 77 new highs and 12 new
lows.
(Reporting by Niket Nishant and Avinash P in Bengaluru; Editing
by Rashmi Aich, Shilpi Majumdar and Shinjini Ganguli)