JPMorgan: Dow Movers

U.S. stocks finished sharply higher Friday, getting a lift from a better-than-anticipated earnings report from JPMorgan Chase(JPM).

A mild read on domestic inflation and in-line gross domestic product data from China also fueled the buying, which saw all three major U.S. equity averages gain more than 1% in the first positive session of the week. The Dow Jones Industrial Average closed up 204 points, or 1.62%, at 12,777, snapping a six-session losing streak. The rally helped the blue-chip index finish the week with an incremental gain of 0.04%. Year-to-date, the Dow is up 4.4%. The biggest percentage gainers were JPMorgan, Bank of America(BAC) and Caterpillar(CAT).Shares of JPMorgan rose 6% to $36.07. The bank reported earnings of $5 billion, or $1.21 a share, which topped analysts' estimates of 72 cents a share despite a $4.4 billion trading loss from the company's Chief Investment Office on a disastrous credit derivatives hedge. Bank of America shares gained 4.6% to $7.82. The stock has increased 40.65% year to date.Shares of Caterpillar rose 3.1% to $82.07. The stock has lost 9.42% year to date.Procter & Gamble(PG) also had a strong day, rising 2% to close at $65.09. Bloomberg reported that P&G is thinking about possibly replacing its current CEO Robert McDonald. The move follows a 3%-plus jump in the stock on Thursday following reports that hedge fund investor Bill Ackman is building a stake in the consumer products giant.The only decliner in the index was Hewlett-Packard(HPQ). Shares fell 1.91% to close at $18.98. The stock has lost 26.32% year to date.--. >To submit a news tip, send an email to: tips@thestreet.com.>To follow the writer on Twitter, go to Alexandra Zendrian. >To order reprints of this article, click here: Reprints