Wall Street hits new highs in strongest week since August

REUTERS: Wall Street climbed to record highs on Friday, with major indexes turning in their strongest weekly gains since August, after strong U.S. housing data and signs of resilience in the Chinese economy raised hopes of a rebound in global growth.

"The macro data points both here and abroad have been relatively positive," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "We think the most important thing this earnings season will be what CEOs say about their outlooks," said Scott Ladner, chief investment officer at Horizon Investments in Charlotte."That always matters, but we think that because of the speed at which some of these global uncertainties have been resolved, it's unlikely we will see those things coming through in the numbers."

Google-parent Alphabet Inc rose 2.0per cent, extending gains after it became the fourth U.S. company to top a market value of US$1 trillion on Thursday.

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