Stocks ended higher on Friday and the S&P 500 posted its best week in nine as the market defied calls for a pullback.
Investors rotated into defensive and lagging sectors in a move that could intensify in coming weeks.
Based on the latest available data, the Dow Jones industrial average (.DJI) was up 29.44 points, or 0.24 percent, at 12,091.70. The Standard & Poor’s 500 Index (.SPX) was up 3.73 points, or 0.29 percent, at 1,310.83. The Nasdaq Composite Index (.IXIC) was up 15.42 points, or 0.56 percent, at 2,769.30.
For the week, the Dow was up 2.3 percent, the S&P 500 was up 2.7 percent and the Nasdaq was up 3 percent.