Wall Street Sees All-time High For S&P 500

After a volatile trading week where the market was whipsawed between hopes and fears around the virus, Cisco Systems provided the biggest boost to the S&P 500 after its quarterly report showed a work-from-home driven surge in demand.

Walt Disney also rose as its rapidly growing streaming video business, and a partial recovery at its theme parks tempered its quarterly loss.

"At least for today it looks like sentiment regarding the potential for vaccines combined with very strong earnings announcements from a number of companies has investors hopeful that the economy can continue to recover," said Michael Arone, chief investment strategist at State Street Global Advisors.

The Dow Jones Industrial Average rose 1.37 percent, to 29,480, the S&P 500 gained 1.36 percent, to 3,585 and the Nasdaq Composite added 1.02 percent, to 11,829.

Along with the S&P, the small cap Russell 2000 also registered a record closing high on Friday, rising 2.1 percent on the day. (Reuters)