Fundstrat's Tom Lee called Nvidia's earnings release a "clearing event" for the stock market and that investors' "animal spirits" are rising.

The Vanguard Mid-Cap Growth ETF was rising 0.6% on Friday morning at $266.77, putting the fund on pace to potentially book its first record close since November 2021, according to Dow Jones Market Data.

At the close, the Dow Jones Industrial Average was up 1.0% at 44,296, the S&P 500 was 0.4% higher at 5,969, and the Nasdaq Composite had added 0.2% to 19,003. Helping the Dow outperform was Boeing ( BA ), which climbed 4.1%, as well as American Express ( AXP, +2.8%) and Nike ( NKE, +3.1%).

Stocks rose in morning trading on Wall Street Friday, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.1% and is solidly on track for a weekly gain that will erase most of last week's loss.

The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 65 points, or 0.1%, and the Nasdaq composite edged up 0.1%. Treasury yields held relatively steady in the bond market.