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The Dow Jones Industrials gained another 75.67 points, on top of Thursday’s all-time high, to end the week at 26,732.65, as McDonald's and Boeing outperformed.
The S&P 500 removed 1.35 points from Thursday’s all-time high to finish at 2,929.41
For the week, the Dow jumped 2.2% while the S&P 500 gained nearly 1%.
The NASDAQ moved downward 41.28 points to 7.986.96, as Micron led some of the largest tech companies lower.
Investors also braced for an S&P 500 sector reshuffling that will send Google-parent Alphabet, Netflix, Facebook and Twitter to the telecommunication services sector. That sector will also be renamed communication services starting Monday. Disney and CBS will also be added to the revamped sector.
The moves will lead to a 21.4% loss in market cap for the consumer discretionary sector and a 19.5% drop in tech's market value.
Meanwhile, the new communication sector will represent 9.8% of the S&P 500, up from the current telecom's size of 2%.
Analysts are not expecting a large move when the new sector starts trading on Monday, but some media stocks could garner buying interest as some of the large FANG stocks join the space.
McDonald's shares rose 2% after the company hiked its quarterly dividend by 14.9% to $1.16 per share.
Micron shares dropped 3.5% after the chipmaker said PC processor shortages are hurting demand for memory chips, a key business for the company.
Five homebuilder stocks were downgraded by J.P. Morgan, including PulteGroup, sending the space lower. PulteGroup shares dropped 0.7%. The analysts noted the housing recovery will be "tepid."
Prices for the benchmark for the 10-year U.S. Treasury faded, raising yields back to Thursday’s 3.07%. Treasury prices and yields move in opposite directions.
Oil prices regained 53 cents to $70.85 U.S. a barrel.
Gold prices tumbled $8.40 to $1,202.90 U.S. an ounce.
