The S&P 500 rose to end just short of a record high on Friday, as a blockbuster Nasdaq debut of South Korea's SK Hynix fuelled optimism about memory-chip makers, while investors looked ahead to quarterly earnings season kicking off next week.

The artificial intelligence trade returned to the spotlight after SK Hynix ended 13 percent above its offering price at $US170 in a high-profile US listing. The semiconductor company raised over US$26 billion on Thursday by selling American Depositary Receipts priced at US$149 each. US stocks added to gains after US President Donald Trump said that Iran had asked to continue talks and the US had agreed, but that the June ceasefire was "over."

Attacks between the US and Iran this week revived concerns that high energy prices could fuel more inflation and force the Federal Reserve to hike interest rates.

The S&P 500 climbed 0.42 percent to end the session at 7,575. It remains down 0.45 percent from its June 2 record-high close.

The Nasdaq gained 0.29 percent to 26,281, while the Dow Jones Industrial Average rose 0.29 percent to 52,637. (Reuters)



Edited by Robert Kemp