Fundstrat's Tom Lee called Nvidia's earnings release a "clearing event" for the stock market and that investors' "animal spirits" are rising.

The Dow Jones Industrial Average climbed 426.16 points, or 0.97%, to finish the session at 44,296.51, while the S&P 500 gained 0.35% to close at 5,969.34, and the tech-heavy Nasdaq inched up 0.16% to end the day at 19,003.65.

The Vanguard Mid-Cap Growth ETF was rising 0.6% on Friday morning at $266.77, putting the fund on pace to potentially book its first record close since November 2021, according to Dow Jones Market Data.