U.S. stocks open higher on eurozone GDP growth, oil boost

U.S. stocks opened higher Friday thanks to upbeat eurozone growth data and a firming oil price.

Seasonally adjusted GDP rose by 0.3 percent in the euro area during the fourth quarter of 2014, compared with the previous quarter, said the statistical office of the European Union on Friday. European stocks were higher in the early trading on the better-than-expected economic data.

The German economy increased 0.7 percent in the fourth quarter after expanding 0.1 percent in the previous three months, while data from France showed a 0.1 percent growth.

Brent crude for December delivery rose to trade at 60 dollars a barrel early Friday after a ceasefire deal for eastern Ukraine was agreed on Thursday.

Russia President Vladimir Putin said he and leaders of France, Germany and Ukraine had agreed on the withdrawal of heavy weapons from Ukraine's frontlines and a ceasefire to begin from Feb. 15.

The news eased Wall Street's concerns over the political and economic fortunes of Europe, which have made stocks toggle in and out of negative territory in weeks.

Shortly after the opening bell, the Dow Jones Industrial Average rose 10.14 points, or 0.06 percent, to 17,982.52. The S&P 500 edged up 0.89 point, or 0.04 percent, to 2,089.37. The Nasdaq Composite Index gained 14.56 points, or 0.30 percent, to 4,846.92.

U.S. stocks witnessed broad gains Thursday, with the Nasdaq Composite Index logging its highest level since March 2000, as investors cheered the ceasefire agreement on the Ukraine conflict. Endi