Stocks jump on final trading day of 2Q

Stocks rose on the final day of June, cementing a positive second quarter for all three major U.S. stock indexes.

The Dow Jones Industrial Average gained 55.56 points to 24,271.61. The S&P 500 rose 2.07 points to 2,718.37. The Nasdaq Composite was up 6.62 points at 7,510.3.

Nike led the Dow higher, with the sportswear maker’s shares rallying after the company reported better-than-expected fiscal fourth-quarter results on Thursday after market close.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 38392.45 -171.35 -0.44%
SP500 S&P 500 4951.27 -24.24 -0.49%
I:COMP NASDAQ COMPOSITE INDEX 15460.582623 -170.20 -1.09%

Financials also climbed higher, after the majority of banks passed the Federal Reserve’s stress tests Thursday. The U.S. unit of Deutsche Bank, the embattled German bank, failed to pass the second round of the annual stress tests, preventing the company from increasing its payout.

The Fed said the other 34 banks submitted acceptable capital return plans. However, Morgan Stanley and Goldman Sachs, which edged out passing grades in the first round of the stress tests last week, won’t be able to boost their dividends or share buybacks.

In overseas markets, the Shanghai Composite index ended the day up 2.17% higher while Hong Kong's Hang Seng index closed the session higher by 1.6%. Japan's Nikkei stock index finished the day up 0.15%. In European trading, London’s FTSE traded up 0587%, Germany’s DAX jumped 1.08%,  France’s CAC gaining 1.08%.

Economic data released Friday included measures on personal income and spending. Core personal consumption expenditures (PCE) increased by 0.2% on May, taking the 12-month gain in core PCE to 12%, the highest since April 2012. The PCE is a key measure of inflation because it calculates price changes in consumer goods and services.

The University of Michigan released its final June consumer sentiment survey results, which were 98.2 versus the consensus estimate for 99.2.

Commodities were mostly higher Friday. U.S. oil futures rose nearly 1% to $74.15 a barrel.

FOX Business' Ken Martin and Matthew Rocco contributed to this article.