Investors shrugged off the potential for a federal government shutdown Friday, driving U.S. stocks higher and setting new milestones for several of the indexes.
The Standard & Poor’s 500 index, Nasdaq composite and Russell 2000 index of smaller-company stocks finished at record highs as the market bounced back from modest losses a day earlier. The S&P 500 has now posted a weekly gain in nine of the last 10 weeks.
Retailers, banks and consumer goods companies accounted for much of the latest gains. Energy stocks fell along with crude oil prices. Utilities also declined as bond yields edged up to their highest level in more than three years.
The S&P 500 index rose 12.27 points, or 0.4 percent, to 2,810.30. The Dow Jones industrial average gained 53.91 points, or 0.2 percent, to 26,071.72. The average hit a new high on Wednesday.
The Nasdaq added 40.33 points, or 0.6 percent, to 7,336.38. The Russell 2000 index of smaller-company stocks picked up 20.90 points, or 1.3 percent, to 1,597.63.