(CNBC) U.S. stocks closed more than 1 percent higher on Friday, recovering from a sharp selloff earlier in the week, as hopes for resolution in Greece and stabilization in China boosted sentiment. (Tweet This)
The Dow Jones industrial average traded about 220 points higher. The index surged more than 200 points in the open as the major averages leaped nearly 1 percent or more. The Nasdaq Composite briefly gained more than 1.5 percent. The Dow transports also gained more than 1.5 percent led by airlines.
Both the S&P 500 and Dow attempted to post weekly gains.
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