The Dow and S&P rose on Friday as encouraging economic indicators offset disappointing results from Bank of America Corp, though weakness in Google Inc kept the Nasdaq's advance in check. A government report showed underlying inflation pressures remained contained in March, while a survey showed April consumer sentiment rose more than expected.
Investors have been concerned that higher energy and food costs would slow consumer spending. Bank of America reported a steeper-than-expected decline of 37.5 percent in profit and named a new chief financial officer. The stock fell 0.8 percent to $13.02 and was the Dow's bigger percentage loser.
Google late on Thursday unnerved investors with a large jump in first-quarter spending. The Internet company also reported an adjusted profit slightly under expectations. The stock sank 6.6 percent to $540.59. The Dow Jones industrial average was up 40.52 points, or 0.33 percent, at 12,325.67. The Standard & Poor's 500 Index was up 4.88 points, or 0.37 percent, at 1,319.40. The Nasdaq Composite Index was up 2.62 points, or 0.09 percent, at 2,762.84.
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