Earnings, hope for US debt deal brighten Wall Street

Investors poured into tech shares on Friday as promising chipmaker earnings and optimism that a solution was on the horizon for the US debt stalemate triggered a move into growth-oriented shares.

The Dow Jones industrial average dropped 43.25 points, or 0.34 percent, to 12,681.16. The Standard & Poor's 500 Index added 1.22 points, or 0.09 percent, to 1,345.02. The Nasdaq Composite Index gained 24.40 points, or 0.86 percent, to 2,858.83.

European shares ended the day and week higher on Friday, led by oil stocks, as a second bailout for debt-laden Greece gave an initial boost to investors' confidence.

Integrated oils were among the top gainers, led by Total , up 1.4 percent, helping the FTSEurofirst 300 end the day up 0.5 percent at 1,108.90 points and the week up 2 percent. It remains down 1.1 percent year-to-date.

Tokyo stocks climbed to a two-week high, led by banks that jumped on Morgan Stanley's strong results and euro-sensitive issues such as Canon , up on the euro's gains after officials agreed on steps to solve Greece's debt woes. Tokyo stocks climbed to a two-week high on Friday, led by banks that jumped on Morgan

Stanley's strong results and euro-sensitive issues such as Canon , up on the euro's gains after officials agreed on steps to solve Greece's debt woes.