The Dow Jones Industrials gained 43.98 points to move into noon hour Friday at 37,448.53.
Dow component Nike dropped 10% after lowering its sales outlook, and announcing plans to cut costs by about $2 billion over the next three years.
The S&P 500 added 15.31 points to 4,762.06. At current levels, the broader index is 0.6% from its record close, and 1% from intraday record.
The S&P 500 advance was broad-based, with more than 440 names gaining in the benchmark. Utilities outperformed, with shares of Evergy and Dominion Energy up by more than 1.6%, each.
The NASDAQ gained 51.83 points to 15,051.70.
The Federal Reserve’s favorite inflation gauge came in less than expected. The November core personal consumption expenditures price index rose just 0.1% last month, and gained 3.2% from a year ago, about in line with expectations. Economists polled by Dow Jones were anticipating a rise of 0.1% month over month, and 3.3% year over year.
The three major averages are on pace for their eighth positive week in a row — a first for the S&P 500 since 2017 and for the Dow dating back to 2019. The S&P 500 is up 0.9% for the week, while the Dow has a gain of 0.4%. The NASDAQ is up more than 1% in the period.
The U.S. stock market will be closed on Monday for Christmas.
Prices for the 10-year Treasury slipped, raising yields to 3.91% from Thursday’s 3.89%. Treasury prices and yields move in opposite directions.
Oil prices falling five cents to $73.84 U.S. a barrel.
Gold prices jumped $14.80 at $2,066.10.