U.S. stocks closes solidly higher Friday after JPMorgan Chase & Co delivered better-than-expected results, kicking of the first-quarter earnings for American corporations, and as shares of Walt Disney Co rose to a record following the announcement of a video-streaming platform to rival Netflix Inc.
The Dow Jones Industrial Average closed up 1% at 26,412, finishing mostly flat for the week. The S&P 500 index gained 0.7% to end at 2,907, while the Nasdaq Composite Index finished the session up 0.5% at 7,984. Both the S&P 500 and Nasdaq registered weekly gains of at least 0.5%.
All three benchmarks are within 2% of their all-time highs. An announced merger between Chevron Corp. and Anadarko Petroleum Corp. also colored market sentiment green before the start of regular trade Friday.