Dow gains after bank earnings as stocks finish winning week: Stock market news today

Stocks finished mixed on Friday but ended the week up as upbeat results from JPMorgan (JPM) and Wells Fargo (WFC) lifted those big banks’ stocks and new survey data showed Americans are becoming increasingly confident in the economy. Banks helped lift the Dow Jones Industrial Average (^DJI), which added about 0.3% as quarterly earnings from Wall Street names started rolling in. The S&P 500 (^GSPC) and Nasdaq (^IXIC) both finished slightly below the flatline. All of the major averages finished Investors were weighing quarterly updates from the financial sector, with the focus on any signs of impact from this spring’s bank failures and the subsequent draining of deposits across the system. JPMorgan and Wells Fargo shares were on the rise after they both reported a surge in profits in the second quarter. Meanwhile, BlackRock (BLK) stock slipped after its revenue fell year over year. All the major benchmarks look on track for weekly wins after signs that inflation is cooling and that the labor market is robust have lifted hopes that a strong economy can give stocks momentum to run higher after a stellar start to the year.