NEW YORK (AP) — U.S. stocks are closing higher as Greece moves closer to sealing a deal for new loans from its creditors.
European markets also rose sharply. China’s stock market climbed for a second day, reversing course after a monthlong slump.
The Dow Jones industrial average gained 211 points, or 1.2 percent, to 17,760 Friday.
The Standard & Poor’s 500 index increased 25 points, or 1.2 percent, to 2,076. The Nasdaq composite climbed 75 points, or 1.5 percent, to 4,997.
The gains were broad. Four stocks rose for every one that fell on the New York Stock Exchange.
Airline stocks rallied. American Airlines rose 4 percent and Delta Air Lines gained 5 percent.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.41 percent.