Wall Street Opens Flat as Wells Fargo, JPMorgan Fall

U.S. stocks opened flat on Friday as investors processed results from JPMorgan and Wells Fargo. Shares of JPMorgan Chase (JPM.N) and Wells Fargo & Co (WFC.N) both fell after their results, even though JPMorgan posted record profits. Wells Fargo dropped 4 percent to $33.77 while JPMorgan was off 1.8 percent at $41.33. A survey released showed consumer sentiment unexpectedly rose in October to its highest level in five years as optimism about the overall economy improved.