(MENAFN- ProactiveInvestors) U.S. stocks rose sharply higher Friday rebounding from mostly losses in the previous session with all three major indexes on track for solid weekly gains.
As of late afternoon in New York the Dow Jones Industrial Average was up 235 points at 18193 while the Nasdaq climbed 46 points to 5038 and the S&P 500 added 24 points to 2113.
Big gains were documented earlier this week after the Fed suggested the central bank will raise rates more slowly than planned previously with the first rate hike not expected until at least September.
There were no economic reports for investors to react to today with traders looking ahead to an important speech by Fed Vice chairman Stanley Fischer on Monday.
Today's session could see increased volatility for stocks given that Friday marks the expiration of equity options stock-index futures stock index options and single stock futures which is known as quadruple witching.
In corporate activity () shares edged up after the company closed lower Thursday its first session as a member of the Dow Jones Industrial Average.
Tiffany () shares fell more than 3% after the company missed same store sales estimates due to currency headwinds. The jeweler also provided a weak earnings outlook despite topping fourth quarter earnings expectations.
() gained over 3% after posting better-than-expected profit and lifting its outlook for the year and the current quarter.
() added 8.5% after the homebuilder posted better-than-expected profit and revenue for its fiscal first quarter.
Nike () late Thursday reported earnings that topped views though revenues fell short. Still the company provided an upbeat outlook on future orders sending the stock up more than 4% today.
Elsewhere Amazon () has won approval from federal regulators to test delivery drones outdoors as the online shopping giant pursues its vision of speeding packages to customers.
Bank of New York Mellon () has agreed to pay $714 million to settle cases with the Justice Department the Labor Department the SEC the New York attorney general and private class action suits over alleged fraudulent foreign exchange practices.
SeaWorld (NYSE:SEAS) has named Joel Manby chief executive at Herschend Family Entertainment as its new CEO effective next month.
Biogen Idec () surged more than 9% after the company reported positive data from an early study of an Alzheimer's disease treatment.
Oil prices moved up Friday amid a drop in the U.S. dollar. April crude which expired at the close rose $1.76 or 4% to settle at $45.72 a barrel on the New York Mercantile Exchange. The contract climbed nearly 4% for the week the first gain in five weeks. Gold for April delivery on the Comex rose $15.60 or 1.3% to settle at $1184.60 an ounce scoring a 2.8% weekly gain as the sharp drop in the US dollar lifted demand for the yellow metal.
European markets ended broadly higher today with Greek shares rising sharply as officials pledged to draw up another plan for economic reforms. Japanese stocks finished higher Friday with the Nikkei rising to a fresh 15-year high as the yen softened against the greenback.
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