S&P 500 closes at record high, Nasdaq outperforms Dow Jones

S&P 500 closes at record high, Nasdaq outperforms Dow Jones

A gauge of the dollar fell for the fifth day, its longest streak of losses in two months.

Earlier this week, Federal Reserve Chair Janet Yellen signalled that future rate hikes will be gradual. Oil and gold advanced.

The S&P 500 gained 0.74 percent, with real estate and energy leading advancers.

The Consumer Price Index for All Urban Consumers was unchanged in June on a seasonally adjusted basis, the labor department reported on Friday.

Retail sales also unexpectedly dropped for a second month in June, signaling consumers are providing only modest support for the US economy and suggesting a weaker than hoped for rebound in GDP in the second quarter. But its revenue came in at 22.17 billion dollars, lower than market expectation. And Citigroup topped earnings estimates, powered by strength in its investment banking group.

The Standard & Poor's 500 index rose 11.44 points, or 0.5 percent, to 2,459.27, a record.

Gold, silver futures settle lower
Investors have been using US data to gauge whether the economy is strong enough to bear a third interest-rate increase this year. Yellen's testimony coupled with ongoing political concersn in the U.S. surrounding any links that may exist between U.S.

The Dow Jones Industrial Average is one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow.

The Dow is up 223.40 points, or 1 percent.

The Nasdaq is up 891.32 points, or 16.6 percent.

The Russell 2000 is up 12.98 points, or 0.9 percent. The Dow Jones Small-Cap Growth TSM Index closed at 8633.94 for a gain of 5.95 points or 0.07%.

The Nasdaq is up 159.39 points, or 2.6 percent.

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