Stocks Opened Higher, Led by Tech

U.S. stocks opened higher on Friday, led by gains in technology stocks, as investors attempted to shake off concerns about rising bond yields and inflation. The Dow Jones Industrial Average lately rose 143.47 points, or 0.57%, to 25,105.95. The S&P 500 gained 14.91 points, or 0.55%, to 2,718.87. The Nasdaq Composite added 42.82 points, or 0.59%, to 7,252.90.

Crude-oil futures Friday were marginally lower, as bullish inventory reports underpinned bullish sentiment. West Texas Intermediate crude oil for April delivery gave up 5 cents, or less than 0.1%, to trade at $62.73 a barrel. Brent crude lost 21 cents, or 0.1%, to $66.25 a barrel.

Americans filing for unemployment benefits plunged to a 45-year low last week, indicating strong job growth. Jobless claims fell by 7,000 to 222,000 in the week ending Feb 17. This marked the second-lowest level since the end of Great Recession of 2007-09.

Cheerios cereal maker General Mills Inc will buy Blue Buffalo Pet Products Inc for nearly $8 billion (5.72 billion pounds), seeking to tap burgeoning demand for natural pet food and offset falling sales for processed items.