JPMorgan Chase reported a dip in profits on higher costs Friday while still topping expectations as executives described US consumers as healthy and the economy as poised to avoid recession.

U.S. stocks were mixed as bank earnings kicked off. The S&P 500 and Dow industrials rose, while the Nasdaq Composite edged down.

Shares of JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC), the two largest banks in the country, traded roughly 4.2% and nearly 5% higher, respectively. Shares of Wells Fargo (NYSE: WFC) traded nearly 6% higher.