Wall Street gains, as JPMorgan surges after earnings

The S&P 500 crossed the 2,900 mark for the first time since early October on Friday, boosted by a jump in Walt Disney shares and as bank stocks surged after strong results from JPMorgan.

FILE PHOTO: Traders work on the floor at the NYSE in New York FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid/File Photo

NEW YORK: U.S. stocks closed near record highs on Friday after the largest U.S. bank, JPMorgan Chase & Co, soothed worries that the first-quarter earnings season would curb Wall Street’s big rally back from last year’s slump.

An 11.5per cent jump in Walt Disney Co shares also gave big boosts to the Dow Jones Industrial Average and the S&P 500.

The Dow Jones Industrial Average rose 269.22 points, or 1.03per cent, to 26,412.27, the S&P 500 gained 19.12 points, or 0.66per cent, to 2,907.44 and the Nasdaq Composite added 36.81 points, or 0.46per cent, to 7,984.16.

(Reporting by Stephen Culp)