U.S. stocks traded higher midway through trading, with the S&P 500 gaining around 1.6% on Friday.

The Dow traded up 2.01% to 49,891.59 while the NASDAQ climbed 1.84% to 22,954.50. The S&P 500 also rose, gaining, 1.60% to 6,907.01.

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Leading and Lagging Sectors

Information technology shares gained by 2.5% on Friday.

In trading on Friday, communication services stocks fell by 2%.

Top Headline

Shares of AutoNation, Inc. (NYSE:AN) jumped more than 7% on Friday after the company posted results for the fourth quarter.

The company reported fourth-quarter adjusted earnings per share of $5.08 (+2% year over year), beating the analyst consensus estimate of $4.85. Sales of $6.929 billion missed the consensus estimate of $7.200 billion.

Equities Trading UP
           

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