Bank stocks jumped Tuesday on positive earnings announcements and upbeat economic news pointing to moderate inflation.

Shares of First Union Corp. rose $1.8125, to $64.8125; J.P. Morgan & Co. gained $7.5365, to $133.5365; and Norwest Corp. was up $1.25, to $39.375, as fee income advances enabled the institutions to meet or beat analysts' income expectations.

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