After Greece said it would apply for international loans to help meet its debt obligations, U. S. markets closed higher on Friday.

On Thursday, it was revealed that borrowing in Greece in 2009 reached 13.6 percent of its annual gross domestic product, rather than 12.7 percent, as previously thought. It was reported that rating service Moody's downgraded Greek bonds one notch, as yield on Greece's 10-year benchmark bonds rose to nearly 9 percent Thursday. It was also noted that U. S. markets found support from the Commerce Department that said new home sales rose 26.9 percent compared with February.

By close of trading in New York, the Dow Jones industrial average gained 69.99 points, 0.63 percent, to 11,204.28. The Standard & Poor's 500 index added 0.71 percent, 8.61, to 1,217.28. The Nasdaq composite index added 0.44 percent, 11.08, to 2,530.15.

2,161 stocks advanced and 869 declined on a volume of 5.3 billion shares traded on the New York Stock Exchange.

The benchmark 10-year Treasury notes fell 12/32 to yield 3.817 percent.

From Thursday's $1.3314, the euro rose to $1.3369. The dollar, against the yen, rose to 94.90 yen from Thursday's 93.60 yen. (With Inputs from Agencies)