What Happened in the Stock Market Today

Strong earnings reports from big technology companies propelled the market higher Friday, with the tech-heavy Nasdaq Composite (NASDAQINDEX: ^IXIC) closing at a new record high along with the S&P 500 (SNPINDEX: ^GSPC), and the Dow Jones Industrial Average (DJINDICES: ^DJI) posting a gain as well.

Data source: Yahoo! Finance.

Technology stocks weren't the only ones that took off. Oil companies surged as the price of crude rose and a report was released showing an increase in the U.S. oil drilling rig count; the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEMKT: XOP) jumped 3%.

Source: Fool.com