Surged on positive news

 Stocks rallied Friday, with the Dow and S&P 500 breaking a six-day losing streak, as JPMorgan Chase reported stronger-than-expected Q2 earnings despite a trading loss of $5.8 billion so far this year. The news is relieving the market of some of its worst nightmares, since the loss could have been bigger and some of the actions taken by the bank are actually helping confidence. Investors also reacted to comments from Federal Reserve Bank of Atlanta President Dennis Lockhart that stimulus action may be coming down the pike. Stocks also gained traction on disappointing economic numbers out of China, as investors grew hopeful that the weakness could prompt additional stimulus measures.