Investors shrugged off the potential for a federal government shutdown Friday, driving U.S. stocks higher.
The Standard & Poor’s 500 index, Nasdaq composite and Russell 2000 index of smaller-company stocks finished at record highs as the market bounced back from Thursday’s modest losses. The S&P 500 has posted a weekly gain in nine of the last 10 weeks.
Retailers, banks and consumer goods companies accounted for much of the latest gains. Energy stocks fell along with crude oil prices. Utilities declined as bond yields edged up to their highest level in more than three years.
The market rally suggested that the possibility of a federal government shutdown this...