U.S. stocks ended higher on Friday, with all three indices posting record highs, as economic data from the country came out overall positive.
The Dow Jones Industrial Average added 223.92 points, or 0.85 percent, to 26,616.71. The S&P 500 increased 33.62 points, or 1.18 percent, to 2,872.87. The Nasdaq Composite Index was up 94.61 points, or 1.28 percent, to 7,505.77.
U.S.economy expanded at an annual rate of 2.6 percent in the fourth quarter of 2017, slightly lower than economists’ expectations, according to the final revision of U.S. gross domestic product (GDP) by the Commerce Department on Friday.
Analysts were mainly optimistic about the GDP data as it was held back mostly by the increasing imports due to stronger consumer spending, which indicated a healthy economic activity.
The Commerce Department also reported on Friday that orders for long-lasting manufactured goods rose 2.9 percent in December, the fastest pace since June 2017 and also beat market expectations.
Meanwhile, Wall Street continued to monitor the latest corporate earnings reports. Of the S&P 500 companies that have reported as of Friday, 80 percent have reported-better-than-expected earnings while 82 percent have surpassed sales estimates, according to data from Thomson Reuters.
