United States stocks end at record high

United States stocks end at record high

United States stocks end at record high

On a weekly basis, the Dow and S&P 500 are each set to post a fourth consecutive weekly advance - the Dow's best run since June and the S&P's longest advance since February/March. The Dow Jones Industrial Average rose 0.5% and closed at 22,775.39.

On the losing end was student-loan servicing company Navient, which fell $2.09, or 14.3 percent, to $12.61.

The Nasdaq slid 4.51 points, or 0.07%, to 6,580.85.

The declines were spread across the stock market on Friday morning, with most sectors of the S&P lower.

Encouraging reports on the economy have been helping stocks, and on Thursday they included a stronger-than-expected rebound in USA factory orders during August and a drop in the number of workers applying for unemployment benefits last week.

US stock index futures were little changed on Thursday as investors took a breather after the main indexes hit record highs for three straight days. The index was also on track to complete an eight-day winning streak.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 4, 2017.

"Nobody likes to buy at all-time highs, but with the prospect of it going higher, you're missing out, so you have to do some buying to stay competitive", Pavlik said.

At the same time, the Commerce Department is likely to report a smaller trade deficit at $42.7 billion in September, compared with $43.7 billion in August.

Helping banks, Randal Quarles was confirmed as vice chair of the Federal Reserve.

The S&P bank index.SPXBK was up 1.3 percent.

Analysts expect earnings of S&P 500 companies rose 5.3 percent in the quarter from a year earlier, according to Thomson Reuters data.

Constellation Brands was close behind after it reported stronger earnings for the latest quarter and raised its forecast for upcoming profit.

About 5.9 billion shares changed hands on US exchanges.