US stocks ended higher on Friday as investors held out hope for a peace deal between Iran and the United States and as SpaceX shares surged in their debut, making it Wall Street's biggest public listing in history.
The United States and Iran signalled that an agreement to end their war was close, with a senior US administration official saying a draft proposal was in place that was liked by both sides. President Donald Trump has said several times since mid-March that a deal with Iran to end the war was close.
Market participants were glued to shares of Elon Musk's SpaceX , which began trading on the Nasdaq on Friday. Its shares closed up 19.2 per cent at $US160.95 ($A228.36), well above the IPO price of $US135 ($A192) apiece. Its market capitalisation was last at $US2.1 trillion ($A3 trillion).
