Major stock indexes closed at new highs on Wall Street Friday, leaving the market with strong profits for the initial week of this year.
Tech stocks and businesses that rely on consumer spending helped lift the current market, outweighing declines in fiscal, industrial, and other industries.
Investors mostly shrugged off the other discouraging projects report amid expectations the incoming Biden government will pump more help to the pandemic-ravaged market.
The S&P 500 climbed 20.89 points, or 0.5%, to 3,824.68.
The Russell 2000 index of smaller companies dropped 5.23 points, or 0.3%, to 2,091.66.
For the week:
The S&P 500 climbed 68.61 points or 1.8 percent.
The Dow gained 491.49 points or 1.6 percent.
The Nasdaq increased 313.69 points or 2.4 percent.
The Russell 2000 picked up 116.80 points or 5.9 percent.