Wall Street’s best week since June | Snap shares crater | Stocks reporting next week and are likely to bounce

All three major averages jumped on Friday, registering strong gains for the week.

VIEW IN BROWSER | SUBSCRIBE FRI, OCT 21, 2022 EVENING BRIEF AS OF FRI, OCT 21, 2022 • 04:54 ET DJIA 31082.56 +2.47% +748.97 S&P 500 3752.75 +2.37% +86.97 NASDAQ 10859.72 +2.31% +244.87 Most Active DOW NAME LAST CHG %CHG AAPL 147.27 +3.88 +2.71% INTC 26.97 +0.89 +3.41% VZ 35.35 -1.65 -4.46% S&P 500 NAME LAST CHG %CHG AMD 58.82 +1.05 +1.82% AAPL 147.27 +3.88 +2.71% T 17.10 +0.36 +2.15% NASDAQ NAME LAST CHG %CHG AMD 58.82 +1.05 +1.82% AAPL 147.27 +3.88 +2.71% TSLA 214.44 +7.16 +3.45% EDITOR'S NOTE Stocks rose on Friday, but the first major week of earnings season delivered a mixed picture of corporate America.   Banks started the week on solid footing, and Netflix looks to be back on track. Verizon and American Express were the only two losers in the Dow Jones Industrial Average on Friday after their earnings reports.    Snap dropped 28% on Friday, which could be an ominous signal for the advertising-dependent companies set to report in the coming weeks.  Overall, earnings growth has slowed this quarter, but it doesn't appear that it will turn negative. Future guidance hasn't been as bad as many feared.   However, when compared to inflation, earnings growth looks even worse.    "One of the great mysteries to the average investor is how earnings can grow while the economy shrinks. And what they're missing is … GDP prices in real terms, while earnings price in nominal terms," said David Waddell, chief investment strategist at Waddell & Associates in Tennessee.    While a recession is an "inevitability," in Waddell's words, inflation means that a big drop in S&P 500 earnings does not have to happen — which could limit the downside for stocks going forward.    "If you go back to the inflationary times that people like to reference, earnings were pretty good," Waddell added.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow climbs more than 700 points on Friday as Wall Street clinches its best week since June U.S. budget deficit cut in half for biggest decrease ever amid Covid spending declines Jan. 6 Capitol riot committee subpoenas former President Donald Trump This week's best stock market performers include earnings winners such as Netflix U.S. consumer is soldiering on despite soaring inflation and recession risk, credit card giants say These stocks reporting next week typically beat the Street and trade higher Bitcoin's volatility falls below Nasdaq and S&P 500's for first time since 2020 Biden predicts Democrats' odds will improve as the midterm elections approach, citing economic improvements Investors will be able to contribute up to $22,500 in 401(k) plans and $6,500 in IRAs in 2023 CDC is discussing using oral polio vaccine for first time in 20 years to stop New York outbreak TOP VIDEO 2023 estimates may be too high, says Rockland Trust's Farmer CNBC PRO Rates on I bonds are expected to drop in November. Why they're still offering the best risk-free return SPECIAL REPORTS Social Security benefits are set to rise by more than $140 per month in 2023. Here's how to find out how much more money you may receive Here's why a new $40,000 electric vehicle tax credit for business owners may be relatively easy to get Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS