U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 1% on Friday.

The Dow traded up 0.85% to 40,090.44 while the NASDAQ rose 1.01% to 18,467.26. The S&P 500 also rose, gaining, 0.86% to 5,632.79.

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Leading and Lagging Sectors

Information technology shares jumped by 1.5% on Friday.

In trading on Friday, communication services shares fell by 0.2%.

Top Headline

JPMorgan Chase & Co. (NYSE:JPM) reported better-than-expected second-quarter FY24 results.

Reported revenue rose 22% Y/Y to $50.2 billion, beating the consensus of $42.3 billion. Net revenue (managed) stood at $51.0 billion (+20% Y/Y) in the quarter. Adjusted EPS of $4.40, exceeding the consensus of $4.19.

Equities Trading UP
                       

Equities Trading DOWN

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Commodities

In commodity news, oil traded up 0.6% to $83.10 while gold traded down 0.3% at $2,414.30.

Silver traded down 1.5% to $31.19 on Friday, while copper rose 1.9% to $4.5925.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.89%, Germany's DAX gained 1.19% and France's CAC 40 rose 1.36%. Spain's IBEX 35 Index rose 0.68%, while London's FTSE 100 rose 0.31%.

Spanish annual consumer price inflation rate eased to 3.4% in June from 3.6% in May, while annual inflation rate in France slowed to 2.2% in June from 2.3% in the prior month. German wholesale prices fell by 0.6% year-over-year in June.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei falling 2.45%, Hong Kong's Hang Seng Index jumping 2.59%, China's Shanghai Composite Index gaining 0.03% and India's S&P BSE Sensex surging 0.78%.

Foreign exchange reserves held by the Reserve Bank of India climbed to $657.2 billion as of July 5. Industrial production growth in Japan rose 3.6% month-over-month in May. Chinese trade surplus widened to $99.05 billion in June from $69.80 billion in the year-ago period.

Economics

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