US stocks rise on optimism over Greek debt crisis

Feb 16, 2012, 22:16 GMT

Washington - US stocks advanced on Friday on optimism over a possible bailout deal for Greece.

The Standard & Poor's 500 Index closed just shy of a more than three-year high and the Dow Jones Industrial Average also neared a level last seen three years ago before losing ground later in the trading day.

The blue-chip Dow Jones Industrial Average rose 45.79 points, or 0.35 per cent, to 12,949.87. The broader Standard & Poor's 500 Index gained 3.19 points, or 0.23 per cent, to 1,361.23. The technology-heavy Nasdaq slipped 8.07 points, or 0.27 per cent, to 2,951.78.

For the week, the Dow added 1.16 per cent, the S&P increased 1.38 per cent and the Nasdaq rose 1.65 per cent.

The US currency remained flat against the euro to 76.11 euro cents from 76.10 euro cents on Thursday. The dollar rose against the Japanese currency to 79.55 yen from 78.88 yen.