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The major U.S. equities indexes edged higher at midday Friday after wavering between losses and gains earlier in the session, as investors digested a slew of bank earnings and China hiked tariffs on U.S. goods .

Shares of Newmont ( NEM ), which led gains on the S&P 500, and other gold miners surged as the precious metal hit new highs .

JPMorgan Chase ( JPM ) shares also climbed after the bank kicked off the new earnings season with  better-than-expected quarterly results. Morgan Stanley ( MS ) shares also rose after the company reported record stock-trading revenue.

Wells Fargo ( WFC ), in contrast, saw its shares slide as the bank’s quarterly net interest income decline offset better-than-estimated earnings.

Shares of Texas Instruments ( TXN ) and Intel ( INTC ), which manufacture chips in the U.S., tumbled after China indicated chips manufactured outside America would be exempt from China's steep tariffs on U.S. goods. Shares of Nvidia ( NVDA ), which outsources manufacturing to TSMC ( TSM ) in Taiwan, gained along with shares of TSMC.

The yield on the 10-year Treasury note rose. The U.S. dollar lost ground against the euro, yen and pound. Prices for major cryptocurrencies gained. (Read Investopedia's live coverage of today's market action here .)

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