RL - Stocks Hike Still on Track for Losing Week

The NASDAQ jumped on Friday, with help from Netflix and Alphabet, as investors tried to hang onto the January rally and earnings reports continued to trickle in.

The Dow Jones Industrials found some traction and moved up 123.41 points to 33,167.97.

The S&P 500 recovered 32.61 points to 3,931.40.

The tech-driven index regained 147.88 points, or 1.4%, to 11,000.15.

Netflix gained 7% after posting more subscribers than expected even though its quarterly earnings missed analysts' estimates. Alphabet rose 5% after the company announced it will lay off 12,000 employees.

Ralph Lauren shares gained nearly 2% following an upgrade to overweight from equal weight rating by analysts at Barclays.

For the week, all three indexes are on track to close lower. The Dow is down more than 3% and on track for its worst week since September.

The S&P 500 is down 1.5% and could notch its worst weekly performance since December. The NASDAQ is down by less than 1% and on pace to break a two-week win streak.

Sales of previously owned homes fell for the 11th consecutive month in December, according to the National Association of Realtors.

Existing homes fell to an annualized pace of 4.02 million units in December, down 1.5% month over month and 34% year over year.

Prices for the 10-year Treasury sank, raising yields to 3.50% from Thursday's 3.40%. Treasury prices and yields move in opposite directions.

Oil prices gained 35 cents to $80.68 U.S. a barrel.

Gold prices edged up four dollars to $1,927.90 U.S. an ounce.