Stocks rose on Friday after a slew of positive corporate news that included strong bank earnings and Disney unveiling a new streaming service.
The Dow Jones Industrial Average surged 188 points. Gains in the financials and communications services sectors pushed the S&P 500 0.4% higher. The Nasdaq Composite advanced 0.3%.
J.P. Morgan Chase kicked off the corporate earnings season on Friday by reporting better-than-expected results. The company said “impact of higher rates ” boosted its results, along with its fixed-income trading revenues. Wall Street cheered J.P. Morgan’s report, sending the stock up 3.3%.