Energy and consumer stocks led the advance. Exxon Mobil (XOM) rose 3 percent and Chevron (CVX) each gained nearly 1 percent. Occidental Petroleum (OXY) rose nearly 4 percent on plans to spinoff some assets into a separate company. And Murphy Oil (MUR) gained 5 percent. It's looking to sell some oil and gas assets that could fetch about $3 billion.
On the consumer side, Campbell Soup (CPB) was hot, gaining 5 percent as its quarterly net jumped. Hyatt (H) jumped 7 percent as its net doubled. Rival Starwood (HOT) gained 4 percent.
But airline stocks were weak after the cancellation of thousands of flights this week. American (AAL) and United (UAL) both lost more than 1 percent. Analysts say the cancellations will hurt first quarter earnings, but the long-term fundamentals for the industry remain strong.
Some of today's most spectacular movers were to the downside.
Weight Watchers (WTW) shed a lot weight, losing a quarter of its value. The company posted weaker earnings and lowered its outlook for 2014. The stock is now at its lowest level in nearly 5 years. And GNC (GNC), a nutrition company used by many dieters, tumbled 14.5 percent. It also issued a weak outlook and Goldman Sachs downgraded the stock to "neutral."
Weak forecasts also hurt Agilent Technologies (A), down 8 percent, and clothing maker VF Corp. (VFC), down 5 percent.
And Under Armour (UA) fell 2.5 percent on the Olympic flap over the flap on its uniforms for U.S. speedskaters, who blame the high-tech suits for slowing them down.
What to Watch Monday:
- U.S. financial markets are closed for Washington's Birthday.
- The Federal Reserve Bank of New York releases its February survey of manufacturing conditions in New York state at 8:30 a.m.
- The National Association of Home Builders releases its housing market index for February at 10 a.m.