US STOCKS - Wall Street Closes Higher on Bets for Fed Rate Cut

WALL STREET - July 12 (Reuters) - Wall Street closed higher on Friday, with the S&P 500 and Dow Jones Industrial Average hitting intraday record highs, on bets that the U.S. Federal Reserve will cut interest rates in September, while big banks fell after reporting mixed results.

Some of the market's most valuable companies bounced back after dipping in the previous session. Apple and Nvidia each climbed more than 1%.