Stocks Opened Mixed, Nasdaq Popped Up

U.S. stocks opened mixed on Friday, with technology shares rebounding from a sharp decline, as encouraging data momentarily offset fears of rising interest rates. The Dow Jones Industrial Average lately fell 106.28 points, 0.34%, to 31,295.73. The S&P 500 gained 9.69 points, 0.25%, to 3,839.03. The Nasdaq Composite added 116.42 points, 0.89%, to 13,235.85.

Oil futures saw significant pressure Friday, as a rise by the U.S. dollar and jitters ahead of next week’s meeting of the Organization of the Petroleum Exporting Countries. West Texas Intermediate crude for April delivery fell $1.57, or 2.5%, to $61.96 a barrel. May Brent crude was down $1.50, or 2.3%, at $64.61 a barrel.

Americans increased spending in January for the first time in three months after the government sent $600 stimulus checks to families and boosted unemployment benefits as part of an effort to shore up the economy. Consumer spending jumped 2.4% last month, the government said Friday.