US stock indexes drift mostly higher; oil price rebounds
Energy, mining and financial companies were among the big gainers, while the technology sector lagged the most, dragged down by Netflix and IBM.
Expectations for earnings are low this quarter, with corporate profits for companies in the S&P 500 projected to be down 8.1 percent, according to S&P Global Market Intelligence.
All of the earnings growth this year is expected to come in the second half of 2016, noted Erin Gibbs, equity chief investment officer at S&P Global Market Intelligence.
Investors bid up oil and natural gas drilling and production companies.
UnitedHealth Group added 1.9 percent after health insurance company raised its guidance for the year and reported strong results for the first quarter.
The company also said it would cut back on participating in Affordable Care Act health care exchanges in a bid to stem losses related to the program.
Netflix's first-quarter revenue also fell short of Wall Street's expectations.
CTRL-ALT-DEL: IBM slid 5.7 percent after the company delivered improved first-quarter earnings thanks to a big tax refund, but also lower revenue amid weaker software sales.
Upbeat economic data and a rebound in oil prices lifted European markets.