NEW YORK: The S&P 500 Friday closed at a fresh record high, while the Dow ended above 18,000 for the first time in 2015 following good economic data out of Germany.
The broad based S&P 500 gained 8.51 points (0.41 percent) at 2,096.99, almost 6.5 points above the prior record set December 29.
The Dow Jones Industrial Average rose 46.97 (0.26 percent) to 18,019.35, while the Nasdaq Composite Index advanced 36.22 (0.75 percent) to 4,893.84.
In the period from October to December, gross domestic product in Germany expanded by a better than expected 0.7 percent, bringing full year growth to 1.6 percent, the German federal statistics office said.
The strong data helped push the German DAX above 11,000 intraday, with the index finishing up 0.40 percent at 10,963.40 points. Other European equity markets also rose as Greece appeared closer to a possible overhaul of its multi billion euro bailout.
Investors were also heartened by another rise in oil prices, with the benchmark European contract for crude finishing above $60 a barrel in London.
Jack Ablin, chief investment officer at BMO Private Bank, said investor sentiment is improving.
“While investors recognize the market may be expensive, I don’t think too many people are calling for the next crisis around the corner,” he said.