In this Friday, March 15, 2013, photo, Trader Richard Scardino, right, uses his handheld device as he works on the floor of the New York Stock Exchange. World markets were lower Friday March 22, 2013 because of uncertainty over the restructuring of troubled banks in Cyprus. (AP Photo/Richard Drew)

US stock markets rise, bolstered by earnings

Published: 08:11:45 PM, Fri 22 March 2013 UTC

NEW YORK (AP) — U.S. stock markets are closing higher on Wall Street, bolstered by strong earnings from companies like Nike.

The Dow Jones industrial average was up 90 points, or 0.6 percent, to 14,512 at the close of trading on Friday.

The Standard & Poor's 500 Index rose 11 points, or 0.7 percent, to 1,556. The Nasdaq rose 22 points, or 0.7 percent, 3,245.

Nike reported a surge in quarterly profit, and its stock was the top gainer in the S&P 500. Tiffany topped earnings predictions, boosted by demand from customers in Asia.

Advancing stocks led declining stocks on the New York Stock Exchange, with advancers totaling 1,859 and decliners at 1,090.

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