The major averages had a good day, second strong Friday in a row thanks to better than expected earnings from a number of big banks. The Dow Jones Industrial Average rose 409 points, or 0.97%. The S&P 500 rose 34 points or 0.61% while the Nasdaq Composite rose 60 points or 0.33%.  

A strong start to the day following third-quarter earnings from the big banks. JPMorgan Chase rose 5% after beating earnings and revenue expectations, while Wells Fargo was up nearly 6% on stronger-than-expected profits. Bank of America was up 4% ahead of earnings next week even as Warren Buffett keeps selling.

Wall Street views the banking sector as a barometer for the health of economy, setting the tone for the remainder of the earnings season.

The yield on the 10-year Treasury slipped 2 basis points to 4.07% while the 2 year Treasury is down 6 basis points to 3.94%.  The producer price index, a measure of wholesale inflation, remained unchanged in September and came in below the 0.1% increase expected by Dow Jones. That helped temper some fears sparked by September's con

On the week, the major averages like the S&P 500 rose 1.1% for a fifth straight positive week. The Dow rose 1.2% while the Nasdaq was up 1.1%, less than 2% from all time highs.