NEW YORK — U.S. stocks are holding near their record levels in early trading after several big banks reported stronger-than-expected profits for the latest quarter. The S&P 500 rose 0.2% Friday and is headed for its fifth straight winning week. The Dow Jones Industrial Average added 142 points, or 0.3%. The S&P 500 and the Dow each set all-time highs earlier this week. The Nasdaq composite slipped 0.3%. JPMorgan rose 3.2% and Wells Fargo rose 4.
Shares of automaker Stellantis fell 4% after the automaker announced some significant leadership changes, including the timing of CEO Carlos Tavares’ retirement. Its chief financial officer is also departing as the company formed by the merger of PSA Peugeot and Fiat Chrysler struggles to revive sales in North America.
In Asia, Japan’s benchmark Nikkei 225 closed up 0.6% at 39,605.80. Australia’s S&P/ASX 200 dipped 0.1% to 8,214.50. Hong Kong markets were closed Friday for a public holiday. On Tuesday, its index dropped more than 9%, its worst loss since the 2008 global financial crisis.
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