US STOCKS-S&P 500 rises with growth stocks; JPMorgan a drag


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    * JPMorgan falls, BlackRock gains after earnings
    * Fed minutes hint at tapering from November
    * U.S. consumer prices post solid gain in September

 (New throughout, updates prices, market activity and comments
to close)
    By Caroline Valetkevitch
    NEW YORK, Oct 13 (Reuters) - The S&P 500 ended higher on
Wednesday, led by gains in shares of big growth names like and Microsoft, but JPMorgan shares fell and weighed
on the index even though the bank beat earnings expectations.
    The S&P 500 briefly added to gains following the release of
minutes from the September Federal Reserve policy meeting.
    U.S. central bankers signaled they could start reducing
crisis-era support for the economy in mid-November, though they
remained divided over how much of a threat high inflation poses
and how soon they may need to raise interest rates, the minutes
    Earlier, a Labor Department report showed consumer prices
increased solidly in September, further strengthening the case
for a Fed interest-rate hike.*:nL1N2R914S
    Shares of JPMorgan Chase & Co  JPM.N  fell and were among
the biggest drags on the Dow and S&P 500 even though its
third-quarter earnings beat expectations, helped by global
dealmaking boom and release of more loan loss reserves.*:nL4N2R92DA
    The day's corporate results kicked off third-quarter
earnings for S&P 500 companies. 
    "My hope is that as we work out way through earnings season
that the forward-looking guidance will be good enough that we'll
close the year higher. But right now the market is in a show-me
phase," said Jim Awad, senior managing director at Clearstead
Advisors LLC in New York.  
    Mega-caps growth names including Inc  AMZN.O ,
Google-parent Alphabet  GOOGL.O  and Microsoft Corp  MSFT.O  all
   According to preliminary data, the S&P 500
 .SPX  gained 14.20 points, or 0.33%, to end at 4,364.85 points,
while the Nasdaq Composite  .IXIC  gained 105.71 points, or
0.73%, to 14,571.64. The Dow Jones Industrial Average
 .DJI  rose 4.35 points, or 0.01%, to 34,382.69. 
   BlackRock Inc  BLK.N  also gained after the world's largest
money manager beat quarterly profit estimates as an improving
economy helped boost its assets under management, driving up fee
    Bank of America  BAC.N , Citigroup  C.N , Wells Fargo
 WFC.N  and Morgan Stanley  MS.N  will report results on
Thursday, while Goldman Sachs  GS.N  is due to report on Friday.
    Analysts expect corporate America to report strong profit
growth in the third quarter but worries have been mounting over
how supply chain problems, labor shortages and higher energy
prices might affect businesses emerging from the pandemic.
    Among other stocks, Apple Inc  AAPL.O  dipped after a report
said the iPhone marker was planning to cut production of its
iPhone 13.*:nL4N2R83KW

 (Additional reporting by Devik Jain and Bansari Mayur Kamdar in
Bengaluru; Editing by Arun Koyyur and David Gregorio)

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