Stocks Were Slightly Higher in Early Trading

U.S. stocks were slightly higher in early trading on Friday, on pace for its best week in more than a year following five straight daily gains. The Dow Jones Industrial Average lately rose 40.50 points, or 0.16%, to 25,240.87. The S&P 500 added 4.28 points, or 0.16%, to 2,735.48. The Nasdaq Composite added 20.55 points, or 0.28%, to 7,276.98.

Oil futures rose Friday, putting the U.S. benchmark on track for a three-day win streak as traders awaited this week’s tally on the number of oil rigs. West Texas Intermediate crude for March delivery rose 23 cents, or 0.4%, to $61.58 a barrel. April Brent crude futures rose 48 cents, or 0.7%, to $64.81 a barrel.

U.S. farm equipment maker Deere & Co (DE.N) on Friday reported a 23 percent jump in first-quarter revenues as its key markets improved, but recorded a net loss after a charge related to U.S. tax reform legislation. Revenues rose to $6.91 billion in the quarter ending Jan. 28 from $5.63 billion last year. It posted a quarterly net loss of $535.1 million, or $1.66 per share.

Construction on new homes in the U.S., known as housing starts, jumped almost 10% in January to an annual rate of 1.33 million. Permits to build new homes also hit a 10 1/2-year high, rising 7.4% to an annual rate of 1.4 million.

Coca-Cola beat analysts’ expectations on the top and bottom line on Friday. It reported EPS of 39 cents compared with the expected 38 cents. Revenue came to $7.51 billion, compared with expected $7.37 billion.