The S&P 500 and the Nasdaq rose on Friday, as Apple gained following a strong sales forecast and a reading of the U.S. central bank's favored inflation gauge reinforced expectations that the Fed would keep interest rates unchanged for longer.

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.