Stocks closed higher on Wall Street giving the market its fifth gain in a row and noting another record high for the Dow Jones Industrial Average.
The S&P 500 rose 0.3% Friday to close at 5,969.34. The Dow added 1% to 44,296.51 and the Nasdaq composite to 19,003,65 tacked on 0.2%—retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts' estimates.
The positive performance reflects continued investor confidence amid favourable economic indicators and corporate earnings momentum.
Separately, Bitcoin nears US$100,000 milestone as the crypto market saw a burst of activity on Friday, prompting the leading digital currency to surge past the US$99,486 mark before retracting gains. The rally was fuelled by growing optimism over potential regulatory easing following reports that the US Securities and Exchange Commission chair is expected to step down soon.
The remarkable ascent follows the debut of Bitcoin ETFs options earlier this week- a landmark event in the cryptocurrency industry.
