04:08 PM EDT, 10/11/2024 (MT Newswires) -- US benchmark equity indexes ended higher Friday, buoyed in part by post-earnings rallies in JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ) shares.

* JPMorgan ( JPM ) shares jumped 4.8% after the banking giant's Q3 earnings unexpectedly rose year over year, while revenue topped market estimates, driven by gains in its investment banking operations.

* Wells Fargo ( WFC ) was up 6% after the lender's Q3 results declined on a yearly basis, but earnings topped market estimates as trading gains and investment banking fees helped noninterest income increase.

* In economic news, Bureau of Labor Statistics data showed that US producer prices were unexpectedly flat sequentially in September, while the annual metric topped market expectations.

* On Thursday, the BLS reported that US consumer inflation increased at a more-than-expected pace last month on both sequential and annual bases.

* The preliminary Michigan Sentiment index fell to 68.9 in October from 70.1 in September, compared with expectations for an increase to 71.0. The readings for both current conditions and the near-term outlook deteriorated due to continued concerns about high prices. Michigan said that inflation expectations for the next year rose to 2.9% in October from 2.7% in September, but the five-year inflation expectation fell to 3% from 3.1%.

* November West Texas Intermediate crude oil closed down $0.29 to settle at $75.56 per barrel, while December Brent crude, the global benchmark, was last seen down $0.43 to $78.97 as an Israeli strike on Iran looms, while demand remains light amid rising supply.

* Tesla (TSLA) fell 8.7% after it unveiled prototypes of a two-seat autonomous vehicle called "Cybercab" and a 20-person vehicle, "Robovan." The event lacked details and updates on several important fronts, Morgan Stanley and Oppenheimer said Friday.