NEW YORK — Stocks are climbing in early trading on Friday as traders respond to some encouraging earnings and deal news. The gains were broad. Nine of the 10 sectors of the Standard and Poor's 500 index rose, led by banks and technology companies.
KEEPING SCORE: The Dow Jones industrial average rose 109 points, or 0.6 percent, to 17,544 at 10:09 a.m. Eastern time. The S&P 500 rose 15 points, or 0.7 percent, to 2,055. The Nasdaq composite climbed 53 points, or 1.1 percent, to 4,766.
IN THE CHIPS: Applied Materials jumped $2.50, or nearly 13 percent, to $22.51 after the maker of chipmaking equipment reported earnings ahead of analysts' forecasts.
IN THE SOUP: Campbell Soup dropped $3.39, or 5 percent, to $50.69 after reporting third-quarter sales that fell short of Wall Street expectations. The company partly blamed challenges in its V8 beverages business and problems with its fresh carrot supply.
GAP HIGHER: Gap rose 33 cents, or 2 percent, to $17.34 after announcing late Thursday that it's closing 75 Old Navy and Banana Republic stores outside North America. The announcement came as the clothes retailer reported a 47 percent drop in first-quarter profits and falling revenue.
DEAL NEWS: Interoil jumped $9.74, or 30 percent, to $41.34 after rival Oil Search announced a deal to buy the company for $2.2 billion. The deal still needs approval by shareholders.
EUROPE REBOUNDS: Britain's FTSE 100 was up 1.7 percent while Germany's DAX rose 1.1 percent. France's CAC 40 advanced 1.6 percent.
ASIA'S DAY: Japan's Nikkei 225 rose 0.5 percent while South Korea's Kospi edged up 0.1 percent. Hong Kong's Hang Seng index rose 0.8 percent. Australia's S&P/ASX 200 gained 0.5 percent.
OIL: Benchmark U.S. oil fell 2 cents at $48.63 a barrel in New York and Brent, used to price international oils, fell 18 cents to $48.63 a barrel in London.
BONDS AND CURRENCIES: Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent. The euro rose to $1.1209 from $1.1202, while the dollar rose to 110.51 yen from 109.89 yen.