S&P 500 gains, on track for third weekly gain

STEVE ROTHWELL

NEW YORK (AP) — Stocks rose in early trading, pushing the Standard & Poor's 500 index toward its third straight week of gains. Travel booking company Priceline.com climbed after reporting strong earnings.

KEEPING SCORE: The S&P 500 index rose five points, or 0.3 percent, to 1,844 in the first half-hour of trading. The Dow Jones industrial average gained 56 points, or 0.3 percent, to 16,186. The Nasdaq composite rose 11 points, or 0.3 percent, 4,277.

GAINING ALTITUDE: Priceline.com climbed $33.75, or 2.6 percent, to $1,316.70 after the online travel company reported earnings that exceeded the expectations of Wall Street analysts.

BAD DEAL: Groupon slumped $1.67, or 16.3 percent, to $8.61 after the online deals company said it expects to post a loss this quarter. The company also issued a weak outlook for the year. Groupon is ramping up its marketing campaign and expects 2014 earnings before interest, taxes and depreciation to be only slightly higher than last year.

STOCK MARKDOWN: Nordstrom fell 53 cents, or 0.9 percent after the high-end retailer said that discounts during the holiday shopping season and costs associated with expanding its Nordstrom Rack chain hurt its profits during the crucial holiday period.

WORLD MARKETS: Japan's benchmark Nikkei 225 index rose 2.9 percent to 14,865 after that nation's central bank signaled its lavish monetary stimulus could continue for longer than the two years anticipated by investors.

TREASURYS AND COMMODITIES: The yield on the 10-year Treasury note climbed to 2.76 percent from 2.75 percent Thursday. The price of oil fell 36 cents, or 0.4 percent, to $102.40 a barrel. Gold rose $6, or 0.5 percent, to $1,322.60 an ounce.