US Stocks Close Week Higher as Big Bank Earnings and Inflation Data Loom

US equities finished the week on a firm footing, with the S&P 500 rising 0.42% on Friday to close at 7,575.39 and posting a gain of more than 1% for the week. The Nasdaq Composite added 0.29% to 26,281.61 and the Dow Jones Industrial Average climbed roughly 150 points to 52,637.01, supported by strength in bank shares. Nvidia rose about 4% and Meta Platforms jumped around 6%, capping a near 15% weekly advance and its strongest week since early 2024, after analysts pointed to signs the company may be improving the cost structure of its artificial intelligence build-out. Attention now turns to a heavy calendar: roughly 70 companies report second-quarter results, including JPMorgan, Wells Fargo, Citigroup and Bank of America, with S&P 500 earnings expected to rise sharply from a year earlier. The June Consumer Price Index is due the same day Federal Reserve Chair Kevin Warsh testifies to Congress, setting up a decisive week for the rate outlook. Analysts have flagged elevated margin debt as a factor that could amplify any market pullback.