(NEW YORK) — Friday proved to be a good day for stocks across the board, after six straight losing sessions.
The Dow finished the day up almost 204 points, and the Nasdaq and S&P indeces picked up 42 points and 22 points, respectively.
It was banks led by J.P. Morgan Chase & Co. that pushed up financial-sector stocks Friday. The nation’s largest bank reported a net income of $5 billion last quarter, even though it also revealed the loss from those risky trades overseas was $5.8 billion, almost three times as much as initially reported.
Wells Fargo also added to Friday’s S&P rally after posting a 17 percent increase in profits last quarter, according to the Wall Street Journal.
Copyright 2012 ABC News Radio
Tom Kludt, CNN Newswire
Megan Marsden Christensen, KSL.com