Spencer Platt/Getty ImagesAs investors digested additional earnings reports, the Dow Jones industrial average and S&P 500 closed at record highs Friday.Disney's third quarter earnings beat Wall Street's expectations.One CIO stated that he anticipates higher volatility in the second half 2021.Subscribe to our daily newsletter 10 Things Before The Opening Bell.On Friday, the Dow Jones industrial average closed at record levels and S&P 500 closed at record highs as investors ate more quarterly financial reports in an earnings season that has been strong overall.Both indexes saw their second consecutive weekly gain amid signs of easing inflation, and continued corporate profit growth.Wall Street expectations were exceeded by Disney's third quarter earnings on Friday. As its US theme parks reopened, the entertainment giant saw strong sales and profit. Lockdown restrictions in other countries kept consumers connected to streaming at-home. Disney shares rose as high as 5%Here are the US indexes at 4 p.m. ET market closes FridayContinue reading: Goldman Sachs names 31 stocks that you should buy when the economy reopens, despite the threat from the COVID-19 Delta variantDavid Donabedian (CIO of CIBC Private Wealth), stated that the equity market had so far supported a strong economic recovery story despite rising volatility. "However we don't anticipate the second half to be as pleasant as the first."Donabedian stated that while we are still in bull markets, the remainder of the year will see higher volatility. He said that if the variant gets worse, the public may start to view COVID-19 more as an economic crisis for equity markets than a public health emergency.SoFi Technologies dropped as high as 15% after the fintech firm released mixed results for its second quarter and revenue guidance for third quarter that was lower than analysts' expectations. This was the company's first earnings report.ContextLogic, parent company of Wish.com, plunged 29% following second-quarter sales results that were below expectations and a per share loss that was unexpected. This led to a double-downgrade by JPMorgan.Oil futures fell after reports from OPEC and the International Energy Agency raised concerns about rising demand.West Texas Intermediate crude fell as much as 1.9% to $67.77 a barrel. Brent crude oil, the international benchmark for oil, dropped 1.8% to $70 per barrel at intraday lows.Gold prices rose by as much as 1.5% to $1,779.34 an ounce
