Economy: US Stocks Close at All-Time Highs

US equities closed higher on Friday, posting weekly gains, as investors kept an eye on retailers during Black Friday as a post-election rally moved forward.

    The Dow Jones industrial average rose about 70 points, hitting a new record high, as 3M and IBM contributed the most gains. The S&P 500 also shot to a new record, closing 0.4% higher as utilities gained 1.4% to lead advancers. The Nasdaq composite rose 0.34%, closing above a previous record of 5,392.26. The three major indexes were also up more than 1% for the week according to CNBC and extended their weekly winning streak to three.

    The Dow Jones industrial average gained 68.96 points, or 0.36%, to close at 19,152.14, with Cisco Systems leading advancers and UnitedHealth the biggest decliner.

    The S&P 500 rose 8.63 points, or 0.39%, to end at 2,213.35, with utilities leading 10 sectors higher and energy lagging. The Nasdaq advanced 18.24 points, or 0.34%, to close at 5,398.92.