Investing.com - U.S. stocks opened higher in subdued trade on Friday, as concerns over the financial situation in Cyprus began to ease after an agreement was found with Greece.
During early U.S. trade, the Dow Jones Industrial Average rose 0.31%, the S&P 500 index added 0.23%, while the Nasdaq Composite index advanced 0.34%.
Cyprus reportedly agreed with Greece on a takeover of the Greek units of Cypriot banks, which ended uncertainty over the fate of those operations.
The Cypriot parliament is scheduled to reconvene for emergency talks later Friday after the European Union issued it with an ultimatum to raise the EUR5.8 billion necessary for a EUR10 billion bailout package by next Monday.
Salesforce.com advanced 0.90% after saying on Thursday that its board of directors had approved a 4-for-1 stock split, sending shares up 0.85% in after-hour trade.
Among earnings, Tiffany surged 3.90% after the jeweler said it sees worldwide sales rising 6 to 8% this fiscal year and posted a better-than-expected profit.
Nike also gained ground, up 9.98%, after the sports apparel retailer reported quarterly earnings that easily topped estimates and said future demand for its clothing and shoes gained.
Elsewhere, Blackstone Group rose 0.30% after it and General Electric lending arm reportedly discussed jointly pursuing Dell's financial-services business.
In addition, the New York Times said Blackstone was weighing whether to make an offer for all or part of Dell, as some people close to the private equity firm may be skeptical that any offer will materialize.
Meanwhile, financial stocks were mixed, with shares in JP Morgan adding 0.21% and Goldman Sachs advancing 0.61%, while Citigroup and Bank of America slipped 0.15% and 0.24% respectively.
Separately, Citigroup said a profit-sharing plan, among pay practices shareholders rejected last year, helped return the bank to profitability by retaining leaders including CEO Michael Corbat.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 inched 0.06%, France’s CAC 40 slipped 0.17%, Germany's DAX slipped 0.11%, while Britain's FTSE 100 rose 0.27%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.50%, while Japan’s Nikkei 225 Index plunged 2.35%.
Also Friday, the Ifo Institute for Economic Research said Garmany's business climate index declined to 106.7 from a reading of 107.4, disappointing expectations for a rise to 107.6.
During early U.S. trade, the Dow Jones Industrial Average rose 0.31%, the S&P 500 index added 0.23%, while the Nasdaq Composite index advanced 0.34%.
Cyprus reportedly agreed with Greece on a takeover of the Greek units of Cypriot banks, which ended uncertainty over the fate of those operations.
The Cypriot parliament is scheduled to reconvene for emergency talks later Friday after the European Union issued it with an ultimatum to raise the EUR5.8 billion necessary for a EUR10 billion bailout package by next Monday.
Salesforce.com advanced 0.90% after saying on Thursday that its board of directors had approved a 4-for-1 stock split, sending shares up 0.85% in after-hour trade.
Among earnings, Tiffany surged 3.90% after the jeweler said it sees worldwide sales rising 6 to 8% this fiscal year and posted a better-than-expected profit.
Nike also gained ground, up 9.98%, after the sports apparel retailer reported quarterly earnings that easily topped estimates and said future demand for its clothing and shoes gained.
Elsewhere, Blackstone Group rose 0.30% after it and General Electric lending arm reportedly discussed jointly pursuing Dell's financial-services business.
In addition, the New York Times said Blackstone was weighing whether to make an offer for all or part of Dell, as some people close to the private equity firm may be skeptical that any offer will materialize.
Meanwhile, financial stocks were mixed, with shares in JP Morgan adding 0.21% and Goldman Sachs advancing 0.61%, while Citigroup and Bank of America slipped 0.15% and 0.24% respectively.
Separately, Citigroup said a profit-sharing plan, among pay practices shareholders rejected last year, helped return the bank to profitability by retaining leaders including CEO Michael Corbat.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 inched 0.06%, France’s CAC 40 slipped 0.17%, Germany's DAX slipped 0.11%, while Britain's FTSE 100 rose 0.27%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.50%, while Japan’s Nikkei 225 Index plunged 2.35%.
Also Friday, the Ifo Institute for Economic Research said Garmany's business climate index declined to 106.7 from a reading of 107.4, disappointing expectations for a rise to 107.6.