Stocks Opened Higher before Home Sales Data

U.S. stocks opened higher on Friday, as traders looked towards the release of existing home sales. The Dow Jones Industrial Average lately gained 103.17 points, or 0.59%, to 17,538.57. The S&P 500 was up 12.72 points, or 0.62%, to 2,052.76. The Nasdaq Composite rose 45.37 points, or 0.96%, to 4,757.91.

Deere & Co., the world’s biggest farm equipment manufacturer, lowered its fiscal full-year profit outlook on projections for reduced sales of tractors and combines as farmers face a decline in income. Full-year net income will be about $1.2 billion, compared with the $1.3 billion it forecast in February.

Deutsche Bank is investigating staff involvement in a transaction suspected of causing a conflict of interest and has suspended bonus payments of the staff while the probe is ongoing, the bank said on Friday.

Foot Locker Inc. (FL) reported Friday fiscal first-quarter earnings that rose to $191 million, or $1.39 a share, from $184 million, or $1.29 a share, in the same period a year ago.

Samsung Electronics Co. agreed with Alibaba Group Holding Ltd.’s financial-services affiliate to cooperate on mobile payments, as the world’s largest smartphone-maker looks to expand its presence in China, a market where it has struggled in recent years.