S&P 500 closes above 3,000 for first time as stocks end record week on high note

Major stock indexes posted record finishes Friday, ending a positive week for equities on a high note. The Dow Jones Industrial Average DJIA, +0.90% rose around 244 points, or 0.9%, to end near 27,332, according to preliminary figures, while the S&P 500 SPX, +0.46% ended above the 3,000 level for the first time, rising nearly 14 points, or 0.

5%, to end near 3,014. The Nasdaq Composite COMP, +0.59% advanced around 48 points to end near 8,244, a gain of 0.6%. Stocks were boosted this week after Federal Reserve Chairman Jerome Powell, in two days of testimony before House and Senate lawmakers, did nothing to dissuade investors from expectations that policy makers will move at the end of the month to cut interest rates.

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