NEW YORK (CNNMoney) -- U.S. stocks moved higher Friday, capping a weekly gain, as upbeat corporate results outweighed a weaker-than-expected report on first-quarter economic growth.
The Dow Jones industrial average (INDU) rose 28 points, or 0.2%, to end at 13,228.
The S&P 500 (SPX) rose 4 points, or 0.3%, to 1,403. The Nasdaq (COMP) added 18 points, or 0.6%, to 3,069.
Stocks started the week on a sour note, with a sharp selloff on Monday. But the Dow & S&P 500 have climbed for four days in a row, driven mainly by better-than-expected corporate earnings.
While that would be down from the fourth quarter, such earnings growth would still suggest that "the world isn't ending," said Jack Ablin, chief investment officer at Harris Private Bank.
"The market is trading at distrust discount, and increased confidence should allow stock prices to move higher, even if earnings don't," Ablin added.
Meanwhile, the U.S. government said first-quarter gross domestic product -- the broadest measure of the nation's economic health -- rose at an annual rate of 2.2%.
The report was weaker than expected. Economists surveyed by CNNMoney forecast that GDP grew at a 2.5% rate in the first quarter, down from 3% in the fourth quarter of 2011.
"While the economy continued to grow in the first quarter, the expansion remains modest in pace and subpar from a historical perspective," said Jim Baird, chief investment strategist for Plante Moran Financial Advisors.
The dollar fell against the euro, the Japanese yen and the British pound.
Oil for June delivery rose 38 cents to $104.93 a barrel.
Gold futures for June delivery rose $4.30 to $1,664.80 an ounce.
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