The Dow and S&P 500 carved out new record highs, cl;osing sharply higher on the week, after stocks rallied sharply later in the week following strong retail sales data and continued mergers and acquisitions activity.
As of midday Friday, The Dow Jones Industrial Average had posted a weekly gain of about 2%, the S&P 500 was up about 1.6% and the Nasdaq Composite 1.3%.