US stocks start higher, erasing weekly loss for the S&P 500

A man stops to deal with his business outside a securities firm showing Japan's Nikkei 225 index in Tokyo Friday, May 21, 2021. Asian shares were mixed Friday after a rebound on Wall Street broke a three-day losing streak. (AP Photo/Hiro Komae)

Men look at monitors showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 21, 2021. Asian shares were mixed Friday after a rebound on Wall Street broke a three-day losing streak. (AP Photo/Hiro Komae)

A man walks past monitors showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 21, 2021. Asian shares were mixed Friday after a rebound on Wall Street broke a three-day losing streak. (AP Photo/Hiro Komae)

People wait to walk across a traffic intersection in front of a securities firm showing Japan's Nikkei 225 index in Tokyo Friday, May 21, 2021. Asian shares were mixed Friday after a rebound on Wall Street broke a three-day losing streak. (AP Photo/Hiro Komae)

People walk across a traffic intersection in front of a securities firm showing Japan's Nikkei 225 index in Tokyo on Friday, May 21, 2021. Asian shares were mixed Friday after a rebound on Wall Street broke a three-day losing streak. (AP Photo/Hiro Komae)

In this Nov. 5, 2020 file photo, a sign for Wall Street is carved in the side of a building, in New York. Stocks are opening broadly higher on Wall Street, Friday, May 21, 2021, bringing the S&P 500 out of the red for the week. (AP Photo/Mark Lennihan, File)

Stocks were broadly higher in early trading Friday, giving the market enough momentum to be on pace to close the week higher after a volatile start to the week.

The S&P 500 index was up 0.6% as of 10:05 a.m. Eastern. The Dow Jones Industrial Average rose 0.8% and the Nasdaq was up 0.5%. The S&P 500 was now up 0.3% for the week.

Technology and health care companies led the gains. Investors remain focused on the possibility of inflation as the economy stirs to life following more than a year of shutdowns related to the COVID-19 pandemic.

Inflation remains a worry for investors in part because it may cause central banks to pull back on their efforts to support job growth before the economic recovery is fully realized.

Oatmilk maker Oatly rose another 9%, following the 19% climb it made a day earlier on its first day of trading.

Nvidia, the graphics card and chip manufacturer, rose 3% after the company announced a four-for-one stock split. Nvidia was one of the biggest gainers of 2020.

Treasury yields were mostly stable. The yield on the 10-year Treasury note held steady at 1.63%.