Stocks Opened Higher, Oil above $42

U.S. stocks opened higher on Friday as Rising oil prices continued to buoy the indexes. The Dow Jones Industrial Average lately gained 87.08 points, or 0.50%, to 17,568.57. The S&P 500 added 6.79 points, or 0.33%, to 2,047.38. The Nasdaq Composite was down 0.49 points, or 0.01%, to 4,774.50.

Oil futures traded higher Friday, adding to their sizable weekly advance. West Texas Intermediate crude futures for April delivery rose by 67 cents, or 1.6%, to $42.33 a barrel. May Brent crude gained 76 cents, or 1.8%, to $42.30 a barrel.

Bank of America Corp., the second-biggest U.S. bank by assets, said its board approved the repurchase of as much as $800 million in shares. The repurchases are in addition to the $4 billion announced a year ago, the Charlotte, North Carolina-based bank said Friday in a regulatory filing.

Starwood Hotels & Resorts Worldwide Inc., owner of brands such as Westin, Sheraton and W, said it received a binding $13.2 billion takeover bid from a group led by China’s Anbang Insurance Group Co., a superior offer to one by Marriott International Inc.

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