Wall Street rises as Middle East hopes lift sentiment

STORY: U.S. stocks rose on Friday, with the Dow reaching an intraday record high, as investors cheered signs of progress in talks to end the Middle East conflict and a strong corporate earnings season.The Dow added six tenths of one percent, the S&P 500 climbed four tenths and the Nasdaq two tenths.The U.S. has made some progress toward a deal with Iran, though more work remains, Secretary of State Marco Rubio said on Friday. Iran’s foreign ministry spokesman said differences between the two sides remained deep.Shana Orczyk Sissel, founder and chief executive officer of Banríon Capital Management say investors should expect more bumps in the road as these talks continue."So in terms of what this means for the market, I think that for as long as we have this uncertainty around how long the tensions and the war will continue, global oil markets will be under pressure, which will continue to lead to higher volatility in the equity and the fixed income markets. And until we have some sort of resolution, I think investors can expect volatility and higher than average inflation.”This will become a focus for Kevin Warsh who was sworn in as the new Federal Reserve chair Friday.Semiconductor stocks, which have driven recent Wall Street gains, were mostly higher though Nvidia slipped about two percent. Shares of U.S. computer makers surged following strong results from China's Lenovo Group with Dell surging nearly 17%.:: WorkdayAnd Workday rose 5% after the human resources software provider exceeded expectations for first-quarter revenue and profit.