U.S. stocks higher in afternoon trade

July 13, 2012 at 6:29 PM

NEW YORK, July 13 (UPI) -- U.S. stocks rebounded Friday as bank shares moved higher in response to better-than-expected second-quarter results from JPMorganChase, analysts said.

The Dow Jones industrial average was up 203.82 points, or 1.62 percent, to 12,777.09 at the closing bell.

The Nasdaq composite was up 42.28, or 1.48 percent, to 2,908.47.

The Standard & Poor's 500 index was up 22.02, or 1.65 percent, to 1,356.78.

The market received an early boost from gross domestic product data out of China that fell in line with expectations.

On the New York Stock Exchange, there were 2,551 advancers and 520 decliners on a total share volume of 3.2 billion.

The benchmark 10-year U.S. treasury note was off 5/32 to yield 1,491 percent.

The euro was at $1.2249 against the U.S. dollar, up from $1.2203 the previous day. Against the yen, the dollar fell to 79.20 from Thursday's 79.31.

In Tokyo, the Nikkei 225 index was up 3.33 points, or 1.32 percent, to 8,724.12. In London, the FTSE 100 was up 57.88, or 1.03 percent, to 5,666.13.

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