NEW YORK - US stocks rallied for the fourth day in a row, as strong earnings reports helped the market look past a looming bankruptcy at major lender CIT Group.
Stocks gained momentum late in a session that had been dominated by cautious trading and profit-taking after the government refused CIT Group further aid.
Among company reports was JPMorgan Chase, the second-largest US bank by assets, which posted a 36 per cent jump in second quarter net profit, to $US2.7 billion.
Tech shares finished higher ahead of profit reports from internet search company Google Inc and computer maker IBM.
The Dow Jones Industrial Average rose 95.61 points, or 1.11 per cent, to settle at 8,711.82.
The technology-heavy Nasdaq added 22.13 points, or 1.19 per cent, to 1,885.03 while the broad Standard & Poor’s 500 index advanced 8.06 points, or 0.86 per cent, to settle at 940.64.

LONDON - Europe’s leading stock markets extended the week’s gains, buoyed by more strong earnings news from the US financial sector, but analysts hinted the surge may be running out of steam.
London’s FTSE 100 index gained 15.38 points, or 0.35 per cent, at 4,361.84 points.

FRANKFURT - The Dax rose 28.75 points, or 0.58 per cent, to 4,957.19.

PARIS - The CAC 40 index gained 28.41 points, or 0.89 per cent, to 3,199.68 points.

TOKYO - Japanese stocks rose on the back of Wall Street’s gains, while Mazda jumped 6.2 per cent and Toyota rose 0.9 per cent after a report that Toyota will supply core technology from its hybrid system to Mazda.
The Nikkei-225 climbed 74.91 points, or 0.81 per cent, to 9,344.16.

HONG KONG - The Hang Seng Index rose 103.21 points, or 0.57 per cent, to 18,361.87.

WELLINGTON - The New Zealand share market was jolted to life by a strong US equities market, and the gains were across the board.
The benchmark NZX-50 index closed up 37.43 points, or 1.35 per cent, at 2801.52. Turnover was worth $NZ110.25 million ($A89.27 million).
There were 56 rises and 21 falls among the 114 stocks traded.

SYDNEY - The Australian sharemarket is expected to continue the week’s gains, following another positive day on Wall Street on corporate earnings reports.
At 0730 AEST on the Sydney Futures Exchange, the September share price index contract was 31 points higher at 4,006.
In economic news on Friday, the Australian Bureau of Statistics releases international trade price indices for June.
The Melbourne Institute publishes its Bulletin of Economic Trends for July.
The Australian Office of Financial Management tenders $700 million of April 2012 Commonwealth government bonds.
In company news, Progen Pharmaceuticals Ltd and several Western Australian-based resources companies hold general meetings, including Glengarry Resources Ltd, Bathurst Resources Ltd and Magnetic Resources NL.
The Household, Income and Labour Dynamics in Australia (HILDA) survey research conference concludes in Melbourne.
On Thursday, a positive offshore lead and strong growth in China’s economy saw the Australian share market post a third successive day of gains.
The benchmark S&P/ASX200 index closed up 71.1 points, or 1.81 per cent, at 3,995.6, after trading as high at 4022.3.
The broader All Ordinaries gained 70.3 points, or 1.79 per cent, to 3,987.8 points.

NYMEX

Oil prices closed mixed with a late rally in Wall Street stocks firing up enthusiasm for the New York benchmark contract.
New York’s main futures contract, light sweet crude for delivery in August, rose 48 cents to close at $US62.02 a barrel, extending a more than three per cent increase on Wednesday.
After slipping much of the session, the New York contract picked up steam in the final hour, in tandem with a rebound on Wall Streets as stocks broke out of a tight range and headed higher.
Prices were under pressure in earlier trade from concerns about the looming bankruptcy of a major US lender, CIT Group, and as traders took profits from the robust rally Wednesday.
In London, Brent North Sea crude for August delivery dropped 34 cents to settle at $US62.75 a barrel.

COMEX

Commodities prices finished a quiet day of trading mixed as investors weighed the economy’s prospects for an impending recovery.
As earnings season heats up, investors who sent commodities climbing earlier this year are hoping companies will validate their beliefs that the nearly two-year-long recession is coming to an end.
Gold for August delivery dipped $US4 to $US935.40 an ounce after a jump on Wednesday.
September silver added 2.7 cents to $US13.2350 an ounce on the New York Mercantile Exchange, while July platinum gained $US11.40 to $US1,162.70 an ounce.
Copper prices fell for the first time this week as fluctuating equity markets curbed investor optimism that metal demand will increase.
September copper futures dropped 0.25 cents to $US2.3895 a pound.