Investing.com - U.S. stocks opened higher on Friday, as investors awaited the release of U.S. home sales data later in the day, while upbeat earnings reports and fresh signs of progress in handling the debt crisis in the euro zone lifted market sentiment.
During early U.S. trade, the Dow Jones Industrial Average rose 0.31%, the S&P 500 index climbed 0.42%, while the Nasdaq Composite index advanced 0.64%.
Market sentiment improved after the Ifo Institute for Economic Research said that its index of German business confidence improved to 104.2 in January, from 102.4 the previous month, beating expectations for a rise to 103.0.
Separately, the ECB said that banks will repay EUR137.159 billion in three-year loans next week, opting to hand back the money early, signalling that a least parts of the financial system are returning to health.
Among earnings, Procter & Gamble surged 3.37% after the consumer goods company reported quarterly earnings and revenue that beat analysts' expectations and said that sales should rise at the higher end of its prior outlook.
In the same sector, Kimberly-Clark climbed 0.76% after reporting quarterly results slightly higher than forecasts.
Apple added to gains, adding 0.11% the iPhone maker said a Chinese labor agent forged documents on behalf of underage workers. The tech giant is currently seeking to improve conditions at suppliers making iPhones, iPads and Macs.
Elsewhere, Tempur-Pedic soared 8.21% after the mattress maker posted better-than-expected quarterly results, offsetting a downbeat earnings outlook for 2013.
Financial stocks were also mostly higher, with Citigroup jumping 0.91% and Bank of America advancing 1.04%, while JP Morgan rallied 1.21%. Goldman Sachs underperformed on the other hand, easing 0.04%.
On the downside, Microsoft saw shares slide 0.33% after the software company posted earnings that slightly beat expectations, but said revenue fell short of estimates.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.75%, France’s CAC 40 climbed 0.67%, Germany's DAX surged 1.29%, while Britain's FTSE 100 added 0.20%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.08%, while Japan’s Nikkei 225 Index surged 2.88%.
Later in the day, the U.S. was to release government data on new homes sales.
During early U.S. trade, the Dow Jones Industrial Average rose 0.31%, the S&P 500 index climbed 0.42%, while the Nasdaq Composite index advanced 0.64%.
Market sentiment improved after the Ifo Institute for Economic Research said that its index of German business confidence improved to 104.2 in January, from 102.4 the previous month, beating expectations for a rise to 103.0.
Separately, the ECB said that banks will repay EUR137.159 billion in three-year loans next week, opting to hand back the money early, signalling that a least parts of the financial system are returning to health.
Among earnings, Procter & Gamble surged 3.37% after the consumer goods company reported quarterly earnings and revenue that beat analysts' expectations and said that sales should rise at the higher end of its prior outlook.
In the same sector, Kimberly-Clark climbed 0.76% after reporting quarterly results slightly higher than forecasts.
Apple added to gains, adding 0.11% the iPhone maker said a Chinese labor agent forged documents on behalf of underage workers. The tech giant is currently seeking to improve conditions at suppliers making iPhones, iPads and Macs.
Elsewhere, Tempur-Pedic soared 8.21% after the mattress maker posted better-than-expected quarterly results, offsetting a downbeat earnings outlook for 2013.
Financial stocks were also mostly higher, with Citigroup jumping 0.91% and Bank of America advancing 1.04%, while JP Morgan rallied 1.21%. Goldman Sachs underperformed on the other hand, easing 0.04%.
On the downside, Microsoft saw shares slide 0.33% after the software company posted earnings that slightly beat expectations, but said revenue fell short of estimates.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.75%, France’s CAC 40 climbed 0.67%, Germany's DAX surged 1.29%, while Britain's FTSE 100 added 0.20%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.08%, while Japan’s Nikkei 225 Index surged 2.88%.
Later in the day, the U.S. was to release government data on new homes sales.