S&P 500 gains as bank earnings start strong

NEW YORK (Reuters) - The S&P 500 rose on Friday after major U.S. banks kicked off the fourth-quarter earnings season with strong results, making investors more confident about heady valuations after a recent market rally, while the Nasdaq closed at a record.

The Dow Jones Industrial Average <.DJI> fell 5.34 points, or 0.03 percent, to 19,885.66, the S&P 500 <.SPX> gained 4.2 points, or 0.18 percent, to 2,274.64 and the Nasdaq Composite <.IXIC> added 26.63 points, or 0.48 percent, to 5,574.12.

(Reporting by Noel Randewich; Editing by Nick Zieminski)