U.S. stocks were higher on Friday, boosted by news of a rise in consumer confidence and a jump in energy company shares as oil prices soared to a record high above $58 a barrel, Reuters reported. While high oil prices are generally negative for stocks -- and indeed trimmed the market's gains in late-afternoon trading -- they help energy companies' profits. Exxon Mobil Corp. rose 1.1 percent to $60.81 and ConocoPhillips gained 2.9 percent to $60.28, helping the S&P 500 nudge into positive territory for the year. Volume was high in morning trading as today marks quadruple witching -- the quarterly expiration of four different types of June futures and options contracts. Expiration can lead to greater volume and volatility as investors adjust or exercise their derivative positions. The New York Stock Exchange said first-hour volume reached an all-time high of 704,370,000 shares. The Dow Jones industrial average was up 41.06 points, or 0.39 percent, at 10,619.71. The Standard & Poor's 500 Index rose 5.25 points, or 0.43 percent, to 1,216.21. The technology-laced Nasdaq Composite Index was up 0.22 points, or 0.01 percent, at 2,089.37. --More 2350 Local Time 2050 GMT
