Financials lead Wall Street higher ahead of earnings

USA stocks rose on Thursday, with the Dow Jones Industrial Average (NYSEARCA:DIA) extending record highs ahead of a deluge of economic data and corporate earnings in the final session of the week.The Nasdaq Composite (INDEXNASDAQ:.IXIC) closed up 38.03 points, or 0.61% to 6,312.47.A decline in financial shares limited the day’s gains, even though JPMorgan Chase & Co (JPM.N) and other big banks delivered quarterly results that beat Wall Street expectations.The US stock market surged on Wednesday, lifting one of the major indexes to a record, after the head of the US central bank predicted borrowing costs would remain relatively low.Stocks rose as investors waited for day two of Federal Reserve chief Janet Yellen’s testimony to Congress. The Nasdaq Composite Index was up 0.6%, its second highest reading ever. For the week, the Dow was up 1% while the S&P was up 1.4% and the Nasdaq was up 2.6%.Thursday’s action left the Nasdaq composite ahead almost 2% for the week and tracking toward its best weekly finish since late May.Financial stocks were the only sector in the S&P 500 to end lower on Friday, partly on news from JPMorgan, the nation’s largest bank by assets, that it expected weaker net interest income, rising by $4 billion rather than $4.5 billion this year.A slew of Dow industrials will report second quarter results next week, including Goldman Sachs, UnitedHealth Group Inc.Inc AMZN.O shares rose 0.1 percent.About 5.3 billion shares changed hands on USA exchanges, compared with the 6.7 billion daily average for the past 20 trading days, according to Thomson Reuters data.