By Liz Moyer

Investing.com — U.S. stocks opened higher as JPMorgan Chase & Co (NYSE:) kicked off earnings season by reporting a drop in profit while new data show inflationary pressures remain front and center. 

The was 0.2% higher at 9:44 am ET and up by 0.3% at 0.3%.

Jamie Dimon CEO at JPMorgan stated that the war in Ukraine as well inflation pose a threat to the economy. As the Federal Reserve looks into ways to lower prices, the Federal Reserve will consider raising interest rates or shedding bonds. Inflation rose by 11% at a 12-month pace in March. This is more evidence that inflation has been running high a day after the Consumer Price Index readings for March showed that inflation was at its highest level in many decades.

On Thursday, more bank earnings will be reported, including from Goldman Sachs Group, Inc. Morgan Stanley (NYSE:), Wells Fargo & Company (NYSE:) and Citigroup Inc. (NYSE:). Due to a dip in capital market activity and investment banking, big banks will likely show weak results in the first quarter.

In recent times, tech investors have found it difficult to deal with rising Treasury yields. At 2.73%, the benchmark note gained. The rising rate of interest could reduce mortgage lending. This is another obstacle for large lenders.

China eased COVID restrictions, which were limiting oil demand in some areas of China’s Mainland. Crude oil rose to $100 per barrel. Price of was 1.3% higher at $101.95 on Wednesday. The international benchmark crude price rose 1.6%, reaching $106.32.

They were flat at $1976/oz