By Mike Keerma
Spurred on by Chinese trade data, a new service from
Walt Disney & Co. (NYSE: DIS), and positive quarterly earnings reports from two of America’s largest
JPMorgan Chase & Co. (NYSE: JPM)
Wells Fargo & Co. (NYSE: WFC), investors bid the big North American stock indices to weekly gains, with
S&P 500 Composite Index
edging towards its record high of 2,940.91, while gaining 0.5% on the week.
Nasdaq Composite Index
also crept towards its 52-week high of 8,133.30, advancing 0.6% on the
S&P/TSX Composite Index
also made strides back towards its record high of 16,586.46 set last July,
while also gaining 0.5% on the week as both financials and energy issues
A stalwart of the Dow Jones Industrial Average, JPMorgan
Chase & Co., posted its
best quarterly results
since the second quarter of 2012, while Wells Fargo & Co.
beat street estimates
for revenue growth in its first quarter. In addition, another key component
of the Dow Jones Industrial Average, Walt Disney & Co., contributed to
rising sentiment with an announcement that it plans to launch a
video streaming service
in November, contributing to a 12% rally in its share price on Friday.
Trade data from China indicated an annual increase of 14.2% in exports,
considerably exceeding street estimates for an 8.7% rise, suggesting a
revival in external demand for Chinese goods, which acts as a stimulus for
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