Tech, health care companies leading higher stocks
Technology and health care companies helped drive U.S. stocks broadly higher Friday as investors pored through the latest batch of company earnings and deal news. Hewlett Packard Enterprise and HP led the gainers among technology stocks. Energy companies also rose as crude oil prices headed higher. Bond yields receded from the four-year highs they reached earlier this week.
KEEPING SCORE: The Standard & Poor's 500 index climbed 21 points, or 0.8 percent, to 2,725 as of 2:07 p.m. Eastern time. The Dow Jones industrial average picked up 127 points, or 0.5 percent, to 25,090. The Nasdaq composite gained 69 points, or 1 percent, to 7,279. The Russell 2000 index of smaller-company stocks rose 10 points, or 0.7 percent, to 1,540.
TECH EARNS: Hewlett Packard Enterprise surged $1.73, or 10.5 percent, to $18.14 after it had a strong fiscal first quarter and raised its estimates for the rest of the year. The data center hardware company also said it will increase its quarterly dividend. Its former corporate sibling, printer and PC maker HP, also rose. Its stock gained 99 cents, or 4.6 percent, to $22.38 after its first-quarter earnings and revenue surpassed analyst expectations. Its forecasts for the rest of the year were also better than excepted.
Elsewhere in the technology industry, Microsoft rose $1.53, or 1.7 percent, to $93.27 and Intel added $1.56, or 3.4 percent, to $47.36.