Bank of America

Solid bank earnings push stocks mostly higher

Solid bank earnings push stocks mostly higher

Banks led U.S. stock indexes mostly higher Friday, propelling the Nasdaq composite index to its fourth record high this week.

Investors welcomed quarterly earnings from JPMorgan Chase, Bank of America and Wells Fargo, all of which reported results that exceeded Wall Street's expectations. Financial stocks also benefited from an upward move in bond yields, which drives higher interest rates on loans.

Real estate stocks were the biggest laggard. Shares in energy companies also closed lower as crude oil prices declined. Mixed data on U.S. retail sales weighed on department store stocks.

Friday's crop of company earnings kicks off several weeks of corporate earnings reports,...

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