Both JPMorgan Chase and Wells Fargo on Friday posted quarterly profits that fell from a year earlier, but by less than what analysts expected. JPMorgan said profit decreased 2% to $12.9 billion, bolstered by lending profits and weighed down by increased losses in credit-card loans.

Major U.S. indexes climbed to fresh highs Friday after strong earnings reports from big banks and a lower-than-expected reading on wholesale inflation.

JP Morgan Chase popped 5% after surpassing profit and revenue expectations, while Wells Fargo jumped almost 6% on better-than-expected profit. Nvidia traded flat at $135. AMD gained 3% after introducing new chips.