The major market averages on Wall Street opened higher on Friday, with the Nasdaq leading the pack, as Apple and Intel's earnings reports brought cheer, while the Fed's preferred inflation gauge came in line with expectations.

The big market story today is Apple (Nasdaq: AAPL), which is lifting all boats and driving the Nasdaq Composite over 1% higher to end the week on a positive note. Apple's Q1 results appeased investors and the markets are seeing the AI glass half full.