U.S. stocks are rising after a surprise interest rate cut in China and hints that the European Central Bank will step up its economic stimulus efforts.
The Standard & Poor's 500 index rose 11 points, or 0.6 per cent, to 2,064 as of 11:55 a.m. Eastern time Friday.
The Dow Jones industrial average rose 113 points, or 0.6 per cent, to 17,831. The Nasdaq composite added 19 points, or 0.4 per cent, to 4,721.
The Dow and S&P 500 are at record highs.
Material and industrial stocks rose the most. Caterpillar and DuPont led the gains in the Dow.
Sotheby's jumped 8 per cent after the auction house's chief executive, William Ruprecht, said he would step down.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 per cent.
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