US Stock Market Rises as Chip Stocks and Earnings Reports Provide Support

New York – US stock markets rose on Friday as investor optimism about progress in Middle East peace talks and a solid earnings season provided main support. The Dow Jones Industrial Average gained 294.04 points, or 0.58%, to 50,579.70, a new closing high. The S&P 500 rose 27.75 points, or 0.37%, to 7,473.47, while the Nasdaq Composite advanced 50.87 points, or 0.19%, to 26,343.97. Investors welcomed comments from US Secretary of State Marco Rubio, who said Washington has made progress toward a deal with Iran; however, he cautioned that much work remains. An Iranian Foreign Ministry spokesperson said differences between the two countries remain sizable.