NEW YORK (AP) ? U.S. stocks opened higher Friday, with investors hopeful after a few U.S. companies reported higher earnings and European leaders raised hopes that the continent is working out its crippling debt crisis.
The Dow Jones industrial average was up 28 points 13,625 early Friday. The Standard & Poor's 500 was up six to 1,466. The Nasdaq composite index was up 19 to 3,195.
Darden Restaurants, parent of Olive Garden and Red Lobster, reported a higher profit in its latest quarter. The stock rose $2.47, or more than 4 percent, to $57.19.
Homebuilder KB Home swung to a quarterly profit following a loss in the same period a year ago. The company also reported higher revenue. KB Home's rose 85 cents, or more than 6 percent, to $13.96.
Apple, propelled by the frenzy around the release of the iPhone 5, rose $4.49, or less than 1 percent, to $703.19.
In Europe, Italy's premier and Greece's prime minister met and repeated their conviction for "the absolute need to safeguard the integrity of the eurozone," according to a statement from the Italian leader's office.
Spain appeared near to working out terms for requesting a bailout from Europe.
The market has been barreling higher, not so much because people have been hopeful about the economy but more by actions from the Federal Reserve and other central banks around the world. In recent days, the Fed and other central banks have ramped up their commitments to rescue their countries' economies.
And despite the higher stock prices, reminders are abundant that the underlying economy is far from healed. Just this week, business activity in China and Europe has proved disappointing. In the U.S., Norfolk Southern and FedEx, considered bellwethers of the overall economy, have warned that businesses are shipping fewer goods or opting for cheaper service.
Source: http://news.yahoo.com/us-stocks-higher-europe-vows-save-euro-140220600--business.html
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