Investing.com - U.S. stock prices rose on Friday after talk grew that Spain may be close to requesting financial aid from its European neighbors, which sparked a risk-on trading session worldwide.
Stocks fell right at the closing bell, however, as stock index futures, stock index options, stock equity options, and single stock futures expired, which happens four times a year and churns markets.
At the close of U.S. trading, the Dow Jones Industrial Average fell 0.13%, the S&P 500 index was down 0.01% as well, while the Nasdaq Composite index was up 0.13%.
The Financial Times reported earlier that Spain is moving closer to requesting a sovereign bailout and is currently working out the details with European Union policymakers.
A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would lower borrowing costs in the large European economy.
Yields on Spanish 10-year bonds this year have repeatedly soared above the 7% threshold considered unsustainable by the markets.
The news sparked demand for stocks globally as a bailout would settle markets by ending fears that Spain could exit the eurozone down the road should Greece default on its debts and be shown the door down the road.
Stocks also saw gains from the Federal Reserve's recent decision to roll out a third round of bond purchases from banks, a monetary policy tool known as quantitative easing that sends stocks gaining by lowering interest rates.
Leading Dow Jones Industrial Average performers included McDonald's, up 0.55%, General Electric, up 0.53%, and Verizon Communications, up 0.46%.
The Dow Jones Industrial Average's worst performers included Coca-Cola, down 1.53%, Alcoa, down 1.41%, and Cisco Systems, down 1.10%.
European indices, meanwhile, finished mixed to higher.
After the close of European trade, the EURO STOXX 50 rose 0.37%, France's CAC 40 rose 0.59%, while Germany's DAX 30 finished up 0.84%. Meanwhile, in the U.K. the FTSE 100 fell 0.03%.
Stocks fell right at the closing bell, however, as stock index futures, stock index options, stock equity options, and single stock futures expired, which happens four times a year and churns markets.
At the close of U.S. trading, the Dow Jones Industrial Average fell 0.13%, the S&P 500 index was down 0.01% as well, while the Nasdaq Composite index was up 0.13%.
The Financial Times reported earlier that Spain is moving closer to requesting a sovereign bailout and is currently working out the details with European Union policymakers.
A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would lower borrowing costs in the large European economy.
Yields on Spanish 10-year bonds this year have repeatedly soared above the 7% threshold considered unsustainable by the markets.
The news sparked demand for stocks globally as a bailout would settle markets by ending fears that Spain could exit the eurozone down the road should Greece default on its debts and be shown the door down the road.
Stocks also saw gains from the Federal Reserve's recent decision to roll out a third round of bond purchases from banks, a monetary policy tool known as quantitative easing that sends stocks gaining by lowering interest rates.
Leading Dow Jones Industrial Average performers included McDonald's, up 0.55%, General Electric, up 0.53%, and Verizon Communications, up 0.46%.
The Dow Jones Industrial Average's worst performers included Coca-Cola, down 1.53%, Alcoa, down 1.41%, and Cisco Systems, down 1.10%.
European indices, meanwhile, finished mixed to higher.
After the close of European trade, the EURO STOXX 50 rose 0.37%, France's CAC 40 rose 0.59%, while Germany's DAX 30 finished up 0.84%. Meanwhile, in the U.K. the FTSE 100 fell 0.03%.