Stocks rise on strong earnings from Nike; investors jump into market after earlier declines

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In this March 15, 2013 photo, Trader Richard Scardino, right, uses his handheld device as he works on the floor of the New York Stock Exchange. THE CANADIAN PRESS/AP, Richard Drew

NEW YORK, N.Y. – U.S. stock markets are closing higher on Wall Street, bolstered by strong earnings from companies like Nike.

The Dow Jones industrial average was up 90 points, or 0.6 per cent, to 14,512 at the close of trading on Friday.

The Standard & Poor’s 500 Index rose 11 points, or 0.7 per cent, to 1,556. The Nasdaq rose 22 points, or 0.7 per cent, 3,245.

Nike reported a surge in quarterly profit, and its stock was the top gainer in the S&P 500. Tiffany topped earnings predictions, boosted by demand from customers in Asia.

Advancing stocks led declining stocks on the New York Stock Exchange, with advancers totalling 1,859 and decliners at 1,090.

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