The Dow rose 31.81 points, or 0.14 percent, to 23,557.99, while the S&P gained 5.34 points, or 0.21 percent, to 2,602.42. The Nasdaq added 21.80 points, or 0.32 percent, to 6,889.16.
Technology stocks led the S&P 500 and Nasdaq to record closing highs on Friday, with the S&P ending above 2,600 points for the first time, while Amazon and retail stocks got a boost from signs of a strong start to the holiday shopping season.
The benchmark S&P 500 and the blue-chip Dow Jones industrials posted weekly gains for the first time in three weeks while the Nasdaq Composite posted its best weekly performance since the week to September 1.
The stock market had a half session on what is known as Black Friday, the day after the Thanksgiving holiday and the unofficial start of the US holiday shopping season.
US stores offered deep discounts, entertainment and gifts to draw bargain hunters, but some shoppers said they were just eyeing goods, reserving their cash for online purchases.
On Thursday, Thanksgiving Day, US shoppers spent more than USD 2.87 billion online, according to Adobe Analytics.Adobe, which measures 80 percent of online transactions at the largest 100 US web retailers, forecast online Black Friday sales of USD 5 billion, which would be a record high. Online retailers could rake in an additional USD 6.6 billion on Cyber Monday.
The S&P retail index rose 0.75 percent and hit a record intraday high, led by Amazon’s 2.6 percent gain.
“In the retail environment, Amazon is extremely important - the fact that Amazon continued to soar bodes well for the fourth-quarter holiday shopping season and it bodes well for Wall Street,” said Adam Sarhan, chief executive of 50 Park Investments.
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