US markets closed in green on Friday as gains in the Basic Materials, Telecoms and Technology sectors led shares higher. Investors also continued to watch developments in the Middle East after the US and Iran launched their heaviest attacks since the ceasefire agreement was signed. However, traders largely seemed reluctant to make more significant moves ahead of the unofficial start of earnings season next week. On the sectoral front, despite the higher close by the broader markets, biotechnology stocks showed a substantial move to the downside, dragging the NYSE Arca Biotechnology Index down by 2.6 percent. Considerable weakness was also visible among airline stocks, as reflected by the 2.2 percent slump by the NYSE Arca Airline Index. On the other hand, housing stocks saw significant strength on the day, driving the Philadelphia Housing Sector Index up by 1.5 percent. Oil service stocks also turned in a strong performance despite a decrease by the price of crude oil, with the Philadelphia Oil Service Index climbing by 1.4 percent.
Dow Jones Industrial Average rose 149.6 points or 0.29 percent to 52,637.01, S&P 500 increased 31.75 points or 0.42 percent to 7,575.39, and Nasdaq added 74.71 points or 0.29 percent to 26,281.60.
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