US stocks extend gains as oil prices fall following news of US-EU energy supply deal

• The S&P 500 rose Friday, headed for its second straight win as Wall Street wraps up the last full trading week of March.
• Wall Street's key indexes were on course for a second consecutive week of gains.

US stocks rose Friday, with investors wrapping up the last full week of trading in March seeing oil prices pulling back on an expected deal energy-supply deal between the US and the European Union.

All three of Wall Street's key equity indexes were headed for a second consecutive week of gains.

Stocks found upside support Friday as oil prices declined. Investors were waiting for official word on news reports of a deal for the US to supply more liquefied natural gas to the European Union. The move would be aimed to help cut Europe's dependence on Russia for energy as Moscow enters its second month of war against Ukraine.

Here's where US indexes stood at 9:30 a.m. on Friday:

• S&P 500: 4,527.62, up 0.17%
• Dow Jones Industrial Average: 34,784.46, up 0.22% (76.52 points)
• Nasdaq Composite: 14,187.60, down 0.05%

EU leaders, however, reportedly stopped short of boycotting Russian oil. While oil prices fell, WTI and Brent crude futures remain above $100 a barrel. Prices were also still higher by nearly 50% this year.

On Wall Street, the Nasdaq Composite was looking at a potential weekly increase of more than 4%, which would piggyback off last week's nearly 9% jump that logged its best week since November 2020.

Cannabis stocks stretched gains after a Thursday report said Congress has scheduled a vote to legalize marijuana.

Cheap Russian oil is heading to China and India amid sweeping sanctions. Meanwhile, Russia says it will accept bitcoin for its oil and gas exports from 'friendly' countries like China and Turkey.

Russian stocks drop 4% on the second day of reopened trading in Moscow, with restrictions unable to hold back selling.

Oil prices fell. West Texas Intermediate crude lost 2% to $110.09 per barrel. Brent crude, the international benchmark, gave up 1.7% to $113.34.

Gold prices slipped 0.2% to $1,955.30 per ounce.

The 10-year yield shed 1 basis point to 2.36%.

Bitcoin picked up 0.6% to $44,262.82.