Wall Street ends higher, as Europe posts best week

US stocks rose for a fifth day during a holiday-shortened, thinly traded session today as investors picked up recently beaten-down shares of large technology companies.

The Dow Jones industrial average gained 172.79 points, or 1.35 percent, to 13,009.68. The Standard & Poor's 500 Index rose 18.12 points, or 1.30 percent, to 1,409.15. The Nasdaq Composite Index climbed 40.30 points, or 1.38 percent, to 2,966.85.

European shares posted their best weekly gain so far this year after rising for a fifth day, boosted by strong German data and growing expectations Greece will soon get the next dose of financial help.

Popolare di Milano rose 1.1 percent and Intesa closed up 1 percent, with the former extending a bounce from a three-month trough hit on Wednesday.

Helped the pan-European FTSEurofirst 300 index close 0.6 percent higher at 1,110.45 points, taking its gains for the week to 4 percent.