Stocks rose on Friday amid heavy trading on the first day of the quarter as PeopleSoft Inc and chip-related stocks boosted the tech-heavy Nasdaq to its highest level in more than two months.
Shares of PeopleSoft rose more than 14 percent after the software company said its board had decided to remove Craig Conway as president and chief executive immediately, citing "a loss of confidence" in Conway.
The Dow Jones industrial average was up 83.92 points, or 0.83 percent, at 10,164.19. The Standard & Poor's 500 Index was up 14 points, or 1.26 percent, at 1,128.58. The technology-laced Nasdaq Composite Index was up 35.93 points, or 1.89 percent, at 1,932.77.
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