US stocks end higher; investors upbeat about earnings season

Major U.S. stocks ended higher on Friday as investors looked forward to the start of earnings next week, and as South Korean chipmaker SK Hynix's SKHYV.O jumped in its Nasdaq debut.

Investors also kept a close eye on U.S.-Iran developments, with President Donald Trump saying on Friday that the United States and Iran had agreed to continue talks despite a recent escalation of hostilities. Still, Trump said the ceasefire reached between the two sides last month was no longer in effect.

Results from the big U.S. banks will lead the way, with JPMorgan Chase JPM.N and Goldman Sachs GS.N among the banks due to report on Tuesday.

Investors have been optimistic about second-quarter earnings for S&P 500 companies after much stronger-than-expected first-quarter results.

The positive reaction to SK Hynix's Nasdaq debut underscored optimism about AI and the chip stocks, which have been volatile in recent sessions. An index of semiconductors .SOX edged up at the close.

Materials .SPLRCM led sector gainers on the S&P 500 .SPX, while healthcare .SPXHC was the sole loser.

Of note, the Cboe Volatility Index .VIX is on pace for its lowest close since early January.

Here is a snapshot of where markets stood shortly after 4 p.m. ET.

(Caroline Valetkevitch)