Friday's early afternoon trade: indices up for third week of gains

US stocks rose on Friday, setting major indexes up for a third week of gains, and money managers saw little on the horizon to tame the bullish trend. The Dow and the S&P 500 are at more than 30-month highs, despite sluggish volume and myriad signs that a pullback is due. The Nasdaq Composite is at its highest in more than three years.
The S&P 500 is up 28 percent since the start of September, and this week doubled its level from the March 2009 lows, the quickest 100 percent jump since the Great Depression. Caterpillar Inc helped boost the Dow on Friday, rising 2 percent to $105.38 after the equipment maker said machinery sales through dealers accelerated in the three months through January. The Dow Jones industrial average was up 45.64 points, or 0.37 percent, at 12,363.78. The Standard & Poor's 500 Index was up 2.49 points, or 0.19 percent, at 1,342.92. The Nasdaq Composite Index was up 6.82 points, or 0.24 percent, at 2,838.40.