US markets gain on eco news, GE dividend

US markets rose on Friday on positive economic news and a dividend by GE.

The Dow gained 40 points to 1,1406. S&P 500 advanced seven points to a two-year high of 1,240. Nasdaq jumped 21 points to 2,637.

General Electric surged over 3% as it raised its quarterly dividend by 17%. Investors also cheered as US trade deficit declined in October. An upbeat report on consumer sentiment also bouyed the markets.

Indian ADRs were mostly in green. ICICI Bank surged 5.4% to $49. HDFC Bank jumped 4% to $167.08.

MTNL, Tata Communications and Tata Motors added 2% each in trades to $2.47, $11.05 and $28.40, respectively.

Patni Computers and Sterlite were yp 1.5% each.