JPMorgan leads big bank earnings surge while Goldman Sachs profits slide.

Stocks were down in early trading on Friday, while JPMorgan's shares rose as much as 6% following a strong earnings report. The preliminary look at consumer sentiment in April from the University of Michigan signaled an uptick in consumer inflation expectations, which investors took as a sign the Federal Reserve will need to remain vigilant in keeping interest rates elevated. JPMorgan, Citi, and Wells Fargo reported top- and bottom-line results that rose against the prior year, while BlackRock's results showed the impact last year's market turmoil has had on investors. Meanwhile, shares of UnitedHealthcare were lower in early trading after the company reported results that topped estimates and raised its 2023 full-year outlook.