Friday's afternoon trade: stocks advance on bank shares

US stocks advanced on Friday after the Group of Seven intervened to support the Japanese yen and major banks were cleared to pay dividends again, but investors are unlikely to make big bets heading into the weekend. Wells Fargo and Co and J.P. Morgan Chase immediately announced dividend increases.
Wells Fargo shares rose 1.8 percent to $31.92 while J.P. Morgan's shares jumped 2.9 percent at $45.83. The iShares MSCI Japan Index Fund was up 1.2 percent. The Dow Jones industrial average was up 103.98 points, or 0.88 percent, at 11,878.57. The Standard & Poor's 500 Index was up 8.65 points, or 0.68 percent, at 1,282.37. The Nasdaq Composite Index was up 14.72 points, or 0.56 percent, at 2,650.77.