U.S. stocks bounced back on Friday on hopes a deal to bail out Cyprus was near completion.
A nearly 12 percent jump in Nike shares a day after the maker of athletic shoes and apparel posted results lifted the consumer discretionary sector of the S&P 500, which led the benchmark's gains. The sector's index was up 1.1 percent, according to Reuters.
The FTSEurofirst-300 index of pan-European stocks dipped 0.1 percent, while Wall Street advanced in Friday's session. But the three major U.S. stock indexes were down for the week, with Cyprus weighing on markets since Monday.
The Dow Jones industrial average rose 83.72 points or 0.58 percent, to 14,505.21. The S&P 500 gained 10.02 points or 0.65 percent, to 1,555.82. The Nasdaq Composite added 21.06 points or 0.65 percent, to 3,243.66.
The S&P 500 is still on track to post only its second weekly decline so far this year. Although the index was down a modest 0.3