Optimism about corporate earnings, bolstered by J.P. Morgan Chase & Co, lifted the stock market slightly on Friday, offsetting lukewarm economic data and putting the S&P 500 on track for a seventh straight week of gains. The S&P Midcap 400 index surpassed its all-time intraday record, rising 0.4 percent to hit 928.05. The index includes companies ranging from $750 million to $3.3 billion in size.
The Dow Jones industrial average rose 34.63 points, or 0.30 percent, to 11,766.53. The Standard & Poor's 500 Index added 5.28 points, or 0.41 percent, to 1,289.04. The Nasdaq Composite Index increased 9.57 points, or 0.35 percent, to 2,744.86. After J.P. Morgan reported its stronger-than-expected fourth-quarter earnings, the bank's shares added 2.4 percent to $45.53.
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