US stocks have finished an up-and-down week on a high note, posting solid gains on a strong Nike earnings report and a rally in Apple shares.

At the closing bell on Friday, the Dow Jones Industrial Average stood at 17,110.84, up 165.04 points (0.97 per cent).

The broad-based S&P 500 gained 16.66 (0.85 per cent) to 1,982.65, while the tech-rich Nasdaq Composite Index surged 45.45 (1.02 per cent) to 4,512.19.

Nike led the Dow, surging 12.2 per cent as fiscal first-quarter earnings jumped 23.3 per cent to $US962 million, besting expectations.

Meanwhile, Apple, the biggest US company by market capitalisation, bolted 2.9 per cent higher, making up most of yesterday’s losses as it released a new version of its software update that had earlier caused glitches in iPhones.

Friday’s trade was the fourth instance in five days this week in which the Dow swung by more than 100 points in a single session.

Art Hogan said the volatility typified the movements near the end of a quarter as investors take profits and square positions.