NEW YORK — U.S. stocks closed out their best week of the year with more gains on Friday and climbed to the cusp of their records.
The S&P 500 rose 0.5% for a fifth straight gain and is just 0.7% below its all-time high set in July. Rallies for Microsoft, Broadcom and other big technology stocks helped it claw back almost all its losses from last week, which was its worst in nearly 18 months.
The Dow Jones Industrial Average jumped 297 points, or 0.7%, and at one point got within 30 points of its record set last month. The Nasdaq composite added 0.7%.
Uber Technologies helped drive the market higher with a gain of 6.4% after saying it will bring autonomous ride-hailing to Austin and Atlanta with Waymo early next year.
Stocks also got support from the bond market, where Treasury yields eased ahead of next week’s meeting of the Federal Reserve.
