U.S. stocks post first weekly gain in three weeks as oil prices fall on hopes of U.S.-Iran progress

U.S. stocks rose Friday and finished the week higher for the first time in three weeks, as oil prices fell on hopes of progress toward a U.S.-Iran agreement to reopen the Strait of Hormuz. The S&P 500 gained 0.5 percent, ending within 0.7 percent of its record high set last month. The Dow Jones Industrial Average rose 0.9 percent and the Nasdaq composite 0.5 percent.