Major benchmarks closed at records Friday as stocks continued to ride a wave of optimism as fourth-quarter earnings season got underway. Wall Street analysts are projecting another strong cycle of quarterly earnings on the back of a double digit growth in S&P 500 earnings per share. The Dow Jones Industrial Average rose 228 points, or 0.9%, to close at 25,803, climbing 2% for the week. The S&P 500 climbed 18 points, or 0.7%, to end at 2,786, for a weekly gain of 2%, while the Nasdaq Composite Index added 49 points, or 0.7%, to close at 7,261. The tech-heavy index rose 1.7% for the week.
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