U.S stocks end up on earnings in quiet session; Dow gains 0.07%

U.S. stocks closed higher on Friday in quiet trading, lead mainly by better-than-expected earnings.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.07%, the S&P 500 index rose 0.88%, while the Nasdaq Composite index rose 1.25%.

Tech giants Google and Microsoft along with financial services company Capital One released  first-quarter earnings that topped many expectations and sparked a buying spree on Friday.

Trading was light, as most investors spent the day tracking events in Boston, where a manhunt for a suspected Boston Marathon bomber was underway.

Data released Thursday capped gains.

The Federal Reserve's Philly manufacturing index came in at 1.3 for April compared to 2.0 in March, defying expectations for a 3.0 reading.

The numbers came days after a similar Fed index for New York State also failed to live up to market expectations and fueled talk the U.S. central bank won't rush to dismantle stimulus programs that weaken the greenback to spur investing, job creation and recovery.

Elsewhere in the U.S., the Department of Labor reported earlier that the number of individuals filing for initial jobless benefits last week rose by 4,000 to 352,000, surpassing market calls for an increase of 2,000 to 350,000.

Jobless claims for the preceding week were revised up by 2,000 to 348,000.

Leading Dow Jones Industrial Average performers included Microsoft, up 3.47%, American Express, up 3.37%, and Verizon Communications, up 2.63%.

The Dow Jones Industrial Average's worst performers included IBM, down 8.30%, General Electric, down 4.01%, and Hewlett-Packard, down 3.17%.

European indices, meanwhile, finished largely higher.

After the close of European trade, the EURO STOXX 50 rose 0.77%, France's CAC 40 rose 1.46%, while Germany's DAX 30 finished down 0.18%. Meanwhile, in the U.K. the FTSE 100 rose 0.69%.

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