US stock indexes broadly higher in early trading; oil rises

NEW YORK (AP) – U.S. stock indexes were broadly higher in early trading Friday, recovering some of their losses from a day earlier. Utilities and industrials companies led the gainers. Banks were the only laggard. Investors were sizing up the latest company earnings and deal news and adjusting portfolios in the final hours of the second quarter. Oil was headed higher.

KEEPING SCORE: The Standard & Poor’s 500 index rose 5 points, or 0.2 percent, to 2,425 as of 10:08 a.m. Eastern time. The Dow Jones industrial average gained 84 points, or 0.4 percent, to 21,371. The Nasdaq composite added 1 point to 6,145. The Russell 2000 index of small-company stocks picked up 2 points, or 0.2 percent, to 1,418. The stock market was coming off a slide led by a steep decline by technology companies.

QUARTER’S END: With the second quarter of the year coming to an end, some investors traditionally look to close out positions and book profits. That can make trading choppy in the final hours of the day.

JUST DID IT: Nike jumped 8.4 percent after the athletic apparel company’s latest quarterly results beat Wall Street’s forecasts. The company also said it’s testing a program to sell sneakers through Amazon.com directly, instead of via third-party sellers. The stock was the biggest gainer in the S&P 500 index, adding $4.46 to $57.63.

REAL ESTATE BET: Parkway vaulted 12.3 percent after the Canada Pension Plan Investment Board agreed to buy the commercial real estate investment trust for about $1.13 billion. Parkway rose $2.51 to $22.89.

BUYING IN: Hain Celestial climbed 9.1 percent after activist investor Engaged Capital disclosed a 9.9 percent stake in the organic food maker. Hain shares added $3.24 to $39.

SHOOTING BLANKS: American Outdoor Brands slumped 8.4 percent after the firearms maker issued weak forecasts for the current quarter and the fiscal year. Shares in the company, which changed its name from Smith & Wesson earlier this year, slid $2 to $21.94.

ENERGY: Crude oil prices were climbing, on course to extend a six-day winning streak. Benchmark U.S. crude was up 43 cents, or 1 percent, to $45.36 a barrel in New York. Brent, the international standard, was up 33 cents, or 0.7 percent, at $47.96 a barrel in London.

CURRENCIES: The dollar rose to 112.13 yen from 112.07 yen late Thursday. The euro and British pound were giving up some of their gains from earlier in the week. The euro weakened to $1.1421 from $1.1432. The pound slid to $1.2975 from $1.2991.

BOND YIELDS: Bond prices fell. The 10-year Treasury yield rose to 2.28 percent from 2.27 percent late Thursday.

MARKETS OVERSEAS: European stock markets were mixed. Germany’s DAX was down 0.1 percent, while the CAC 40 in France was 0.2 percent higher. The FTSE 100 index of leading British shares was up 0.1 percent. In Asia, trading was mixed. The Hang Seng in Hong Kong fell 0.8 percent, while Japan’s Nikkei 225 index dropped 0.9 percent. South Korea’s Kospi lost 0.2 percent, while Australia’s S&P ASX 200 lost 1.7 percent. Shares in Southeast Asia were mostly lower.