The Dow Jones Industrial Average Today Surges On JPM Earnings, Chinese Data

The Dow Jones Industrial Average pushed higher Wednesday, bolstered by strong Chinese trade data and a surprise earnings report from investment bank JPMorgan Chase & Co. (NYSE: JPM). The Dow rallied 187 points as stocks brushed aside concerns about China, monetary policy, and oil volatility.

Here's what else you need to know about the markets on April 13, 2016.

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First up, check out the results for the Dow JonesS&P 500, and Nasdaq:

Dow Jones: 17,908.28; +187.03; +1.06%                         

S&P 500: 2,082.42; +20.70; +1.00%

Nasdaq: 4,947.42; 75.33; +1.55%

Now, here's the top stock market news today…

DJIA Today: Financial Stocks Rally on Earnings Report Optimism

U.S. banks are struggling with emergency plans to address their statuses as "Too Big to Fail." The U.S. Federal Reserve and the FDIC are demanding that five domestic banks revisit their "living wills" by Oct. 1 or they could face regulatory sanctions, higher capital requirements, or growth restrictions. These living wills help banks brace a potential bankruptcy and prevent a need for a taxpayer bailout.

The five banks are J.P. Morgan Chase & Co.Wells Fargo & Co. (NYSE: WFC), Bank of America Corp. (NYSE: BAC), Bank of New York Mellon Corp. (NYSE:BK), and State Street Corp. (NYSE: STT). The only bank to pass the standards of both agencies was Citigroup Inc. (NYSE: C).

Despite the news, financial stocks rallied Wednesday on optimism about banking earnings reports. The SPDR S&P Bank ETF (NYSE: KBE) rallied more than 2%.

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