India, May 24 -- U.S. stocks rose on Friday, with the Dow reaching a record closing high, as investors cheered signs of progress in talks to end the Middle East conflict and a strong corporate earnings season. The S&P 500 notched its eighth consecutive weekly gain, its longest since a nine-week streak ended in December 2023. Semiconductor stocks, which have driven recent Wall Street gains, were mostly higher. The Philadelphia Semiconductor Index rose, lifted by a 12% jump in Qualcomm, while Nvidia slipped 1.90%. The U.S. has made some progress toward a deal with Iran, though more work remains, Secretary of State Marco Rubio said on Friday. Iran's foreign ministry spokesman said differences between the two sides remained deep.

"Earnings s...