Investing.com - U.S. stocks finished Friday largely higher, rising on news Europe may be closer to containing its debt crisis, which sparked a global risk-on session.
The Dow Jones Industrial Average closed up 0.50% on Friday, the S&P 500 index was up 0.12% while the Nasdaq Composite index finished down 0.24%, mainly on correcting shares in tech giant Apple.
Europe served as a major steering current for the stock market on Friday.
In Germany, the Ifo Business Climate Index for April rose to 109.9 from 109.8 in March, outpacing expectations for the figure to drop to 109.5.
April's figure represented a nine-month high, and improving moods in Germany, Europe's largest economy, bodes well for the crisis-wracked continent.
Meanwhile, International Monetary Fund Managing Director Christine Lagarde said she expects member countries to contribute more to a financial firewall to contain the debt crisis.
The news prompted investors to sell safe-haven assets and take on risk in search of reward in U.S. equities markets, where earnings reports also fueled trading.
Spain recently conducted a successful bond auction, which sparked some relief-buying in Wall Street Friday.
On Thursday, Spain raised EUR2.54 billion via an issue of 2-year and 10-year bonds, beating targets of between EUR1.5 billion to EUR2.5 billion.
The benchmark 10-year bonds sold at a return of 5.743 percent, and while high, was welcome news due to the turnout.
Meanwhile in the U.K., monthly retail sales rose more than expected to a seasonally adjusted 1.8% last month, from -0.8% in the preceding month.
Leading Dow Jones Industrial Average performers included Microsoft, up 4.55%, The Travelers Companies, up 1.70%, and Verizon Communications, up 1.52%.
Leading index losers included Bank of America, down 4.67%, JPMorgan Chase, down 1.16%, and Hewlett-Packard, down 0.81%.
European indices, meanwhile, were up as well.
After the close of European trade, the EURO STOXX 50 rose 1.16%, France's CAC 40 rose 0.46%, while Germany's DAX 30 finished up 1.18%. Meanwhile, in the U.K. the FTSE 100 closed up 0.48%.
The Dow Jones Industrial Average closed up 0.50% on Friday, the S&P 500 index was up 0.12% while the Nasdaq Composite index finished down 0.24%, mainly on correcting shares in tech giant Apple.
Europe served as a major steering current for the stock market on Friday.
In Germany, the Ifo Business Climate Index for April rose to 109.9 from 109.8 in March, outpacing expectations for the figure to drop to 109.5.
April's figure represented a nine-month high, and improving moods in Germany, Europe's largest economy, bodes well for the crisis-wracked continent.
Meanwhile, International Monetary Fund Managing Director Christine Lagarde said she expects member countries to contribute more to a financial firewall to contain the debt crisis.
The news prompted investors to sell safe-haven assets and take on risk in search of reward in U.S. equities markets, where earnings reports also fueled trading.
Spain recently conducted a successful bond auction, which sparked some relief-buying in Wall Street Friday.
On Thursday, Spain raised EUR2.54 billion via an issue of 2-year and 10-year bonds, beating targets of between EUR1.5 billion to EUR2.5 billion.
The benchmark 10-year bonds sold at a return of 5.743 percent, and while high, was welcome news due to the turnout.
Meanwhile in the U.K., monthly retail sales rose more than expected to a seasonally adjusted 1.8% last month, from -0.8% in the preceding month.
Leading Dow Jones Industrial Average performers included Microsoft, up 4.55%, The Travelers Companies, up 1.70%, and Verizon Communications, up 1.52%.
Leading index losers included Bank of America, down 4.67%, JPMorgan Chase, down 1.16%, and Hewlett-Packard, down 0.81%.
European indices, meanwhile, were up as well.
After the close of European trade, the EURO STOXX 50 rose 1.16%, France's CAC 40 rose 0.46%, while Germany's DAX 30 finished up 1.18%. Meanwhile, in the U.K. the FTSE 100 closed up 0.48%.