(Adds details of afternoon trading)

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Wells Fargo ( WFC ) advances on Q3 profit beat

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Citigroup ( C/PN ) profit climbs on record revenue

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Indexes: S&P 500 +0.29%, Nasdaq -0.21%, Dow +0.91%

By Sukriti Gupta and Noel Randewich

Oct 14 (Reuters) - Wall Street indexes were mixed on

Tuesday as investors digested mostly positive quarterly results

from big U.S. banks, comments from Federal Reserve Chair Jerome

Powell and an ongoing U.S.-China trade war.

A slew of major lenders reported solid results on strong

performance in the investment banking segment, helping the S&P

500 banking index rally 2%.

Wells Fargo ( WFC ) surged 8.4% and was on track for its

best day in six months and Citigroup ( C/PN ) jumped 4.6% after

both lenders beat estimates for third-quarter profit.

JPMorgan Chase ( JPM ) raised its full-year forecast for net

interest income and Goldman Sachs ( GS ) beat Wall Street

expectations for quarterly profit. However, shares of both

JPMorgan ( JPM ) and Goldman Sachs ( GS ), which have outperformed most rivals

this year, fell 1.3% and 0.6%, respectively.

BlackRock's ( BLK ) assets under management hit a record $13.46

trillion, lifting its shares 3.7%.

U.S. President Donald Trump's trade war with China remained in

focus for investors as the two countries began charging

additional port fees on ocean shipping firms that move

everything from holiday toys to crude oil.

Global equities were shaken on Friday after Trump threatened

100% tariffs on Chinese goods after Beijing imposed controls on

the export of rare earth minerals, although he softened his tone

over the weekend.

"The market is really struggling with where this shakes

out," said Ross Mayfield, an investment strategist at Baird

Private Wealth Management. "If the (Trump) administration feels

like ramping up these tensions again, the market looks pretty

expensive right now for that sort of fight, especially if 100%

tariffs and other measures are back on the board."

The U.S. labor market remained mired in its low-hiring,

low-firing doldrums through September, though the economy

overall "may be on a somewhat firmer trajectory than expected,"

Powell said in remarks prepared for delivery at a National

Association for Business Economics conference.

The S&P 500 was up 0.29% at 6,674.27 points.

The Nasdaq declined 0.21% to 22,646.84 points, while the Dow

Jones Industrial Average was up 0.91% at 46,488.75 points.

Ten of the 11 S&P 500 sector indexes rose, led by financials

, up 1.7%, followed by a 1.53% gain in industrials

.

Gains in industrial stocks supported the Dow. Caterpillar ( CAT )

jumped almost 5% after J.P. Morgan raised its price

target on the stock.

The International Monetary Fund marginally lifted its 2025

global growth forecast, as tariff shocks and financial

conditions have proven more benign than expected, while warning

that a renewed U.S.-China trade war could slow output

significantly.

Advancing issues outnumbered falling ones within the S&P 500

by a 5.4-to-one ratio.

The S&P 500 posted 22 new highs and 10 new lows; the Nasdaq

recorded 100 new highs and 91 new lows.