(MENAFN- AFP) The Dow and S&P 500 Friday bolted to fresh records after eurozone ministers agreed to extend Greece's bailout by four months.
The Dow Jones Industrial Average gained 154.67 points (0.86 percent) to 18,140.44, notching its first record of 2015.
The broad-based S&P 500 rose 12.85 (0.61 percent) to 2,110.30, while the tech-rich Nasdaq Composite Index jumped 31.27 (0.63 percent) to 4,955.97.
The bailout will be extended as long as Greece sets out key reform commitments by Monday, Eurogroup chief Jeroen Dijsselbloem said following a meeting with finance ministers in Brussels.
Markets greeted the news, which removes the immediate threat of a Greek default, though analysts also expressed caution.
"For now, crisis averted," said Jack Ablin, chief investment officer at BMO Private Bank, adding that "there is a lingering cloud that's going to continue to hang over the eurozone."
"It's terrific news but I wouldn't get too excited until a permanent deal is signed," said Chris Low, chief economist at FTN Financial.
The biggest gainer in the Dow was Boeing, which surged 3.0 percent after Sterne Agee raised its price target on the stock by $32 to $196. The report predicted the aerospace giant would undertake large stock buybacks as its cash pile grows.
Nordstrom advanced 6.0 percent on news comparable sales in the fourth quarter rose 4.5 percent. The department store chain projected a 2-4 percent rise in sales in 2015.
Metals producer Newmont Mining gained 4.6 percent after the company reported $15 million in the fourth quarter, compared with a $1.2 billion loss last year. The company said gold production would "increase steadily" over the next three years.
Auction house Sotheby's rose 1.3 percent after investor Marcato Capital Management demanded a $500 million share buyback. Marcato holds about 7.4 percent of the company.
Pharmaceutical company AbbVie jumped 3.9 percent after hiking its quarterly divided by four percent.
Bond prices were mixed. The yield on the 10-year US Treasury rose to 2.12 percent from 2.11 percent, while the 30-year fell to 2.72 percent from 2.74 percent. Bond prices and yields move inversely.
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