Fly Intel: Wall Street's top stories for Friday

The Dow managed to finish the week on an up note with an advance despite a tepid post-earnings performance from blue chip bank JPMorgan (JPM), which reported alongside fellow financial giants Wells Fargo (WFC) and Citi (C). The three major banks kicked off earnings season in a mixed fashion as investors brace for a significant pick up in quarterly reporting over the next few weeks. ECONOMIC EVENTS: In the U.S., the June trade price report was mixed, with a weaker than expected 0.4% import price decline and a stronger than expected 0.3% increase in export prices. The University of Michigan consumer sentiment survey was weaker than expected, falling 1.1 points to a 6-month low of 97.1 in the preliminary print for July. Baker Hughes reported that the U.S. rig count is up 2 rigs from last week to 1,054. In Asia, China's exports were strong in June, rising 11.3%, while imports fell a bit short of expectations with an increase of 14.1%. COMPANY NEWS: Shares of JPMorgan fell fractionally despite starting off this summer's earnings season by reporting better than expected earnings for the second quarter. Meanwhile, Wells Fargo slipped 1.2% after reporting downbeat results for Q2, with the company noting in presentation slides that the third party review of customer accounts is "ongoing." Citi shares also fell 2.3% after its quarterly report, though the bank's headline earnings for the quarter beat analysts' estimates. In addition, PNC Financial (PNC) reported better than expected results for the quarter and guided for third quarter net interest income to be up low-single digits... Meanwhile, AT&T (T) was in focus after the U.S. Department of Justice said it plans to appeal the approval of the merger between AT&T and Time Warner. In an interview on CNBC this morning, AT&T CEO Randall Stephenson said that the move by the DOJ "changes nothing"... Johnson & Johnson (JNJ) dipped 1.4% after a Missouri jury awarded $4.69B to 22 women who alleged that use of J&J's talcum powder products caused their ovarian cancer. The jury award includes $550M in compensatory damages and $4.14B in punitive damages against the company. J&J responded by saying it "intends to pursue all available appellate remedies"... Additionally, shares of Cisco (CSCO) dropped 4.1% after The Information reported that Amazon Web Services (AMZN) is considering selling its own networking switches for business customers. Arista Networks (ANET) and Juniper (JNPR) also fell 4.3% and 2.3%, respectively, after the news. MAJOR MOVERS: Among the noteworthy gainers was Biocept (BIOC), which surged 9.8% after it announced a provider agreement with Alliance Global FZ. Also higher was Achillion (ACHN), which gained 7.2% after it said it began dosing in its Phase 1 trial of ACH-5548. Among the notable losers was Gogo (GOGO), which fell 16.2% following the company's announcement of a strategic review. Also lower was Ingredion (INGR), which dropped 10.2% after it provided lower than expected Q2 guidance and cut its outlook for fiscal 2018. INDEXES: The Dow rose 94.52, or 0.38%, to 25,019.41, the Nasdaq gained 2.06, or 0.02%, to 7,825.98, and the S&P 500 advanced 3.02, or 0.11%, to 2,801.31.