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The S&P consumer discretionary index jumped 0.55 percent after data showed households bought a range of goods and figures for the prior month were revised higher, suggesting the economy exited 2017 with strong momentum.
The S&P financial index rose 0.5 per cent.
While tax-related costs are expected to weigh on banks' earnings, they are expected to benefit in the long run from lower tax burden.
Earnings for S&P 500 companies are expected to increase on an average by 11.8 per cent in the quarter with profit for financial services companies growing as much, according to Thomson Reuters I/B/E/S.
The Nasdaq Composite was up 5.27 points, or 0.07 per cent, at 7,217.04.
The index was dragged by a 4 per cent fall in Facebook's shares after the company started changing the way it filters posts and videos on News Feed.
Advanced Micro Devices fell 2.66 per cent after the company said its microprocessors are prone to both variants of the Spectre security flaw, days after saying its risk for one of them was "near zero".
Futures fell briefly on Friday after consumer prices for December posted their biggest gains in 11 months, raising expectations of inflation gaining momentum this year.
The Labor Department's Consumer Price Index, which excludes the volatile food and energy components, rose 0.3 percent last month. Economists polled by Reuters had forecast core CPI rising 0.2 percent.
Core CPI increased 1.8 percent in the 12 months through December, picking up from 1.7 percent in November.
Advancing issues outnumbered decliners on the NYSE by 1,462 to 1,035. On the Nasdaq, 1,445 issues rose and 969 fell.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)