U.S. stocks closed higher Friday, edging further into record territory as investors welcomed a move by China to stimulate its economy by lowering interest rates.
Hints from the head of Europe's central bank that it might step up its own stimulus efforts also helped lift stocks. The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs.
The Dow climbed 91.06 points, or 0.5 percent, to 17,810.06.
The S&P 500 index added 10.75 points, or 0.5 percent, to 2,063.50.
The Nasdaq composite rose 11.10 points, or 0.2 percent, to 4,712.97.
For the week:
The Dow rose 175.32 points, or about 1 percent.
The S&P 500 index rose 23.68 points, or 1.2 percent.
The Nasdaq rose 24.43 points, or 0.5 percent.
For the year:
The Dow is up 1,233.40 points, or 7.4 percent.
The S&P 500 index is up 215.14 points, or 11.6 percent.
The Nasdaq is up 536.38 points, or 12.8 percent.