JPMorgan Chase reported a dip in profits on higher costs Friday while still topping expectations as executives described US consumers as healthy and the economy as poised to avoid recession.

Shares of JPMorgan Chase ( JPM 4.60%) and Bank of America ( BAC 4.90%), the two largest banks in the country, traded roughly 4.2% and nearly 5% higher, respectively. Shares of Wells Fargo ( WFC 5.80%) traded nearly 6% higher.

Earnings season kicks off in earnest Friday with the first results from major banks: JPMorgan and Wells Fargo. MarketWatch will be breaking down the expectations and results.