Investing.com - Investing.com - U.S. stocks rose on Friday after investors applauded Chinese e-commerce giant Alibaba's initial public offering as well as Scotland's decision to stay in the U.K., though profit taking trimmed gains later in the session.
The session saw a quarterly event known as quadruple witching, when futures and options contracts on indexes as well as individual stocks expire, which boosted volume and volatility.
Technology stocks fell as investors sold to invest in Alibaba, which pushed indices down.
At the close of U.S. trading, the Dow 30 rose 0.08%, the S&P 500 index fell 0.05%, while the NASDAQ Composite index fell 0.30%.
The Volatility S&P 500 index, which measures the outlook for market volatility, was up 0.67% at 12.11.
Chinese e-commerce company Alibaba Group Holdings Ltd (NYSE:BABA) rose $22 billion in Wall Street's largest IPO in history on Friday, which drew applause along the street.
The company's shares traded in a volatile manner at times before closing up 38%.
Elsewhere, Scotland's decision to stay in the U.K. sent stocks rising earlier in the session as well.
A record turnout of voters delivered a clear victory for the No campaign on Thursday, with 55% of Scottish voters rejecting independence and 45% backing it.
Concerns that a Scottish secession may disrupt the U.K. economy and prompt other European regions to follow suit rattled nerves prior to Friday.
Leading Dow Jones Industrial Average performers included Microsoft Corporation (NASDAQ:MSFT), up 1.74%, Verizon Communications Inc (NYSE:VZ), up 1.30%, and McDonald's Corporation (NYSE:MCD)s, up 0.99%.
The Dow Jones Industrial Average's worst performers included Caterpillar Inc (NYSE:CAT), down 1.80%, Intel Corporation (NASDAQ:INTC), down 0.92%, and Goldman Sachs Group Inc (NYSE:GS), down 0.83%.
European indices, meanwhile, ended the day largely higher.
After the close of European trade, the DJ Euro Stoxx 50 rose 0.22%, France's CAC 40 fell 0.08%, while Germany's DAX rose 0.01%. Meanwhile, in the U.K. the FTSE 100 rose 0.27%.
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