The S&P posts its best day since March as earnings season kicks into gear on a upbeat day for US markets. All three major averages are now on track to end the week in positive territory. Banking stocks are among the winners on Wall St. Bank of America, Morgan Stanley, Citi and Wells Fargo all post earnings beats as trading ramps up and credit reserves are released. As the gas crisis grips Europe and prices soar, Russia's Deputy Prime Minister Alexander Novak tells CNBC that the Nord Stream 2 pipeline is a ready-made solution, waiting to go. And Hugo Boss hikes its full-year outlook, amid strong demand in Europe and the Americas, but the German fashion retailer warns of the impact of renewed Covid restrictions in the Asia Pacific region.

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