NEW YORK, New York - U.S. stocks closed higher on Friday, capping a volatile week with broad-based gains led by technology shares, while European and Asian markets delivered a mixed performance as investors weighed interest rate expectations and corporate earnings.

Bond prices fell as yields continued higher following the Federal Reserve's decision on Wednesday to keep rates steady, despite the strong economy. "On one hand, there's much to like about the market environment. Inflation is relatively steady, interest rates are range bound, and earnings are robust," Terry Sandven, chief equity strategist at US Bancorp Asset Management, told CNBC Friday. "Conversely, you've got Middle East conflict, the Middle East conflict that continues, and that's pushing oil prices higher, which of course is inflationary."

The Standard and Poor's 500 rose by 52.09 points, or 0.70 percent, to finish at 7,489.72. The benchmark index traded between a low of 7,399.83 and a high of 7,512.04 during the session.

The Dow Jones Industrial Average added 276.97 points, or 0.53 percent, closing at 52,485.03.

The tech-heavy NASDAQ Composite outperformed, climbing 251.68 points, or 1.00 percent, to settle at 25,373.85.

The broader NYSE Composite Index bucked the upward trend, slipping 30.75 points, or 0.13 percent, to 24,107.54, while the NYSE American Composite Index gained 9.87 points, or 0.12 percent, ending at 8,448.14. Small-cap stocks lagged, with the Russell 2000 Index falling 14.76 points, or 0.50 percent, to 2,931.34.

Wall Street's "fear gauge," the CBOE Volatility Index, dropped sharply by 1.05 points, or 6.15 percent, to 16.04, signaling a calmer close to the trading week.

Across the Atlantic, UK and European indexes were mostly lower. The Cboe UK 100 declined by 1.14 points, or 0.11 percent, to 1,080.91, and the FTSE 100 fell 29.22 points, or 0.27 percent, to 10,868.05. Germany's DAX P managed a slight gain of 17.21 points, or 0.07 percent, closing at 25,629.24, while France's CAC 40 rose 24.00 points, or 0.28 percent, to 8,509.64. The EURO STOXX 50 I added 13.61 points, or 0.21 percent, to 6,358.01, and the Euronext 100 Index edged up 4.15 points, or 0.22 percent, to 1,925.79. Belgium's BEL 20 gained 30.82 points, or 0.55 percent.

In Asia, markets closed with significant divergence. Japan's Nikkei 225 surged by 2,494.59 points, or 4.03 percent, to 64,362.02, while South Korea's KOSPI Composite Index skyrocketed by an extraordinary 1,001.89 points, or 17.91 percent, to 6,595.45. Taiwan's TWSE Capitalization Weighted Stock Index jumped 3,186.45 points, or 7.98 percent, to 43,119.75.

Mainland China's SSE Composite Index rose 27.57 points, or 0.72 percent, to 3,832.26. Hong Kong's HANG SENG INDEX added 25.55 points, or 0.10 percent, to 25,884.43.

Elsewhere in the region, Australia's S&P/ASX 200 advanced 9.10 points, or 0.10 percent, to 8,976.80, while the ALL ORDINARIES gained 14.30 points, or 0.16 percent, to 9,137.00. Singapore's STI Index fell 45.08 points, or 0.79 percent, to 5,628.50, and New Zealand's S&P/NZX 50 INDEX GROSS dropped 63.50 points, or 0.46 percent, to 13,699.28.

India's S&P BSE SENSEX rose 166.49 points, or 0.21 percent, to 78,094.64. Indonesia's IDX COMPOSITE gained 49.76 points, or 0.80 percent, to 6,236.13, while Malaysia's FTSE Bursa Malaysia KLCI added 4.50 points, or 0.26 percent, to 1,724.90. Israel's TA-125 advanced 50.08 points, or 1.25 percent.

In the Americas, Canada's S&P/TSX Composite index fell 279.70 points, or 0.79 percent, to 35,226.14. Brazil's IBOVESPA rose 840.14 points, or 0.47 percent, to 177,999.00, while Mexico's IPC MEXICO dropped 366.52 points, or 0.54 percent, to 66,923.88. Chile's S&P IPSA declined 59.68 points, or 0.55 percent, to 10,887.72, and Argentina's MERVAL lost 13,595.00 points, or 0.41 percent, closing at 3,291,322.75. South Africa's Top 40 USD Net TRI Index fell 42.74 points, or 0.63 percent, to 6,706.17.

In currency markets, the U.S. Dollar Index dipped 0.03 points, or 0.03 percent, to 99.84.

The British Pound Currency Index gained 0.22 points, or 0.16 percent, to 134.84, and the Euro Currency Index added 0.10 points, or 0.09 percent, to 115.36.

The Japanese Yen Currency Index rose 0.49 points, or 0.78 percent, to 63.18, while the Australian Dollar Currency Index advanced 0.16 points to 70.37. 

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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