S&P 500, Dow Close at Record to End Bullish Week of Earnings on High By Investing.com – Investing.com

S&P 500, Dow Close at Record to End Bullish Week of Earnings on High By Investing.com – Investing.com

© Reuters.

By Yasin Ebrahim

Investing.com – The S&P 500 and Dow closed at all-time highs Friday as the record run in stocks continued during a week of red-hot earnings and swashbuckling gains for tech.

The rose 0.36%, to a record intraday high of 4,185.47, the rose 0.48%, or 164 points, closing at record high of 34,200.67. The was up 0.1%.

Morgan Stanley (NYSE:), Bank of New York Mellon (NYSE:) and PNC Financial Services (NYSE:) reported first-quarter results that beat estimates on the top and bottom lines, but it was the latter that got the plaudits, rising more than 2%.

Other regional banks were also higher, with U.S. Bancorp (NYSE:) leading the charge, up almost 3% as its better-than-expected quarterly earnings released Thursday stoked optimism on Wall Street.  

U.S. Bancorp has started to "experience a rebound in its fee based businesses along with the improved credit picture, which should reassure investors that the company will navigate this downturn better than nearly all of its peers and should maintain its premium valuation to the group," RBC said.

Financials have been kept under pressure in recent session on falling yields, with analysts warning that any further deterioration in rates would likely continue to