Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.
Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The Dow extended its streak of weekly gains to four.
The strong finish caps a week when the major stock indexes set more highs while barely moving and extends a string of gains for the broader market in recent weeks.
Hopes that the U.S. and China can make progress in their latest push for a trade deal have helped keep investors in a buying mood.
“Over the past week the market absorbed a number of challenging trade headlines, and it didn’t go down,” said Willie Delwiche, investment strategist at Baird.
The S&P 500 index rose 0.8%, to 3,120.46. The benchmark index briefly reached the 3,100 mark earlier in the week.
The Dow Jones Industrial Average gained 222.93 points, or 0.8%, to 28,004.89. The Nasdaq composite climbed 0.7%, to 8,540.83. The Russell 2000 index of smaller companies picked up 0.5%, to 1,596.45. -- AP