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.