U.S. stocks rose on Friday as investors looked past a poor Intel earnings report, instead focusing on a partial government shutdown solution.
President Donald Trump announced that he reached a continuing resolution deal with Congress to reopen the U.S. government. The temporary deal will fund the government for three weeks until Feb. 15.
The Dow Jones Industrial Average closed higher by 184 points, or 0.8 percent, to 24,737.20. The S&P 500 also rose nearly 1 percent, while the Nasdaq Composite moved higher as constituent Starbucks gained on strong earnings.
The Dow squeaked out a weekly gain of 0.1 percent for the week, its fifth straight positive week as investors continued to buy after the market's big December drop. That five week win streak was the Dow's longest since August.
"For the government to be open, for both sides to be talking – has got to be a positive for Wall Street. Everyone agreed there was measurable economic damage each week," Tom Block, Washington policy strategist at Fundstrat Global Advisors, told CNBC.
Apple, Amazon Alphabet and Facebook led the gains as investors got back into a risk-taking mood with the shutdown ending, buying their favorite technology names. Apple jumped 3.3 percent.
Additionally, two other themes added positive sentiment to Friday's trading: Federal Reserve monetary policy and trade negotiations with China.
The Wall Street Journal reported that the Fed is closer than expected to ending its balance sheet unwind. The Fed's decision is a key consideration for investors as they gauge the extent to which the central bank will tighten its monetary policy.
Treasury Secretary Steven Mnuchin projected confidence about the status trade negotiations between the U.S. and China in comments to Reuters. Mnuchin said both sides were "making a lot of progress" in the talks.