(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
Sarah Anderson, Deseret News
Jeff Peterson, Deseret News
Aaron Smith, CNN Newswire
Ahiza Garcia, CNN