Friday's Dow Jones Surge Fueled by UNH and JPM Stocks

The Dow Jones Industrial Average held a modest gain, led by strong earnings reports from UnitedHealth Group and JPMorgan. Microsoft also saw gains after receiving an upgrade from UBS. Citigroup and Wells Fargo reported solid Q2 results, but their stocks were knocked off session highs. The Financial Select Sector SPDR ETF was down, while the SPDR S&P Regional Banking ETF slumped. In acquisition news, Eli Lilly gained after announcing plans to acquire Versanis. The Nasdaq composite and S&P 500 added gains, while small caps lagged. The Nasdaq is set to announce a reweighting of the Nasdaq 100. In earnings news, Aehr Test Systems soared after reporting better-than-expected results, while ASML and Celsius were top gainers in the IBD 50. In the chip space, Nvidia jumped to a new high, while Opera plunged after a parabolic move.