U.S. stocks up, S&P 500 reaches record closing high

The benchmark S&P 500 index clinched its longest-ever bull market run on Friday, closing above its previous January high, as Federal Reserve Chairman Jerome Powell affirmed the U.S. central bank`s current pace of rate hikes.

The Dow Jones Industrial Average rose 133.37 points, or 0.52 percent, to 25,790.35, the S&P 500 gained 17.72 points, or 0.62 percent, to 2,874.7 and the Nasdaq Composite added 67.52 points, or 0.86 percent, to 7,945.98.

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