The Dow Jones was up 0.7%, the S&P 500 was up 1%, and the Nasdaq composite was up 1.4% as of 10:05 a.m. Eastern time.
US stock indices increased little on Friday as statements made by Federal Reserve Chair Jerome Powell on relaxing monetary policy seemed to have a positive effect on investors' sentiments.
The Dow Jones Industrial Average was up 305 points, or 0.7%, the S&P 500 was up 1%, and the Nasdaq composite was up 1.4% as of 10:05 a.m. Eastern time.
The Dow Jones Industrial Average increased by 166.3 points, or 0.41 percent, to 40,879.12 at the opening bell. The Nasdaq Composite increased by 153.4 points, or 0.87 percent, to 17,772.727, while the S&P 500 increased by 31.8 points, or 0.57 percent, to 5,602.49.
Following better-than-expected quarterly profit and revenue, Workday's stock surged 12.6%. The stock of Ross Stores increased 4.7% as the company's profit and revenue figures beat analyst projections.
In the bond market, the 10-year Treasury's yield decreased slightly late on Thursday, from 3.86 percent to 3.84 percent. The yield on a two-year note fell to 4.00%.
Crude OIL Due to a decline in the US dollar, oil prices increased by 2% on Friday. At 1220 GMT, Brent crude prices increased by $1.38, or 1.8%, to $78.60 a barrel, while US West Texas Intermediate (WTI) crude futures increased by $1.46, or 2%, to $74.47.
Bullion Friday saw an increase in gold prices before Jerome Powell's address. By 1219 GMT, spot gold had increased 0.7% to $2,500.83 an ounce. US gold futures increased to $2,536.50, up 0.8%. Spot silver increased by about 1.5% to $29.41 an ounce.