U.S. stocks closed higher Friday, as investors welcomed a batch of better-than-expected corporate results and the Dow and S&P 500 finished at their highest levels since 2007. In U.S. economic news, new-home sales unexpectedly dropped in December, sliding 7.3 percent to an annual rate of 369,000, according to a report from the Census Bureau. In corporate news, Procter & Gamble shares rose 4 percent, which led gainers on the Dow. The company, which makes a variety of household goods, topped earnings expectations and raised its outlook for earnings and share repurchases in 2013. In the S&P 500, Halliburton shares jumped more than 5 percent, making it among the best performers in the index. The dollar fell versus the euro and the pound, but rose against the yen. Light sweet crude oil for March delivery lost 7 cents to $95.88 a barrel on the New York Mercantile Exchange. Gold futures dropped $13.30 to $1,656.60. The Dow Jones industrial average gained 70.65, or 0.51 percent, to 13,895.98. The broader Standard & Poor's 500 index rose 8.14, or 0.54 percent, to 1,502.96. The technology-heavy Nasdaq composite index moved up 19.33, or 0.62 percent, to 3,149.71.
