Stocks edge higher in midday trading; CarMax jumps
Stocks are slightly higher in midday trading as the market heads for a week of solid gains.
CarMax shares vaulted 17 percent after the used car dealership operator reported a jump in first-quarter earnings, easily beating Wall Street estimates.
Oracle slumped 5 percent after the software company’s quarterly results fell short of forecasts.
The Standard & Poor’s 500 index rose four points, or 0.2 percent, to 1,963 as of noon Eastern time Friday.
The Dow Jones industrial average gained 48 points, or 0.3 percent, to 16,969. The Nasdaq composite rose three points, or 0.1 percent, to 4,362.
The S&P 500 index is on track to gain 1.4 percent for the week.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.63 percent from 2.62 percent late Thursday.