S&P closes above 1800, Dow finishes seventh straight weekly gain

|By:, SA News Editor

Stocks continued their upward march in a quiet session, with long-term tailwinds that have lifted stocks all year continuing to hold sway: an accommodative Fed, meager returns on other assets such as bonds, and steady expansion in corporate profits.

The S&P finished with its first-ever close above 1800, the Dow - which ended above 16,000 yesterday for the first time - concluded its seventh straight weekly gain for its longest win streak in nearly three years, and the Nasdaq closed just nine points shy of 4,000.

The dollar declined against other major currencies, while the 10-year Treasury yield fell 3 bps to 2.75%.

Gold gained slightly to end at $1,244.60, leaving it down 3.4% for the week, while oil fell to $94.84l, up 1.1% for the week.