Wall St scales record highs on earnings optimism, robust data

Traders work on the floor of the New York stock exchange on 8 January 2018. Reuters

Shares of Facebook tumbled Friday after it announced an overhaul of its newsfeed, while USA stocks added to records following data showing higher retail sales in December.

The Standard & Poor's 500 index rose 18.68 points, or 0.7 percent, to 2,786.24.

The Dow Jones industrial average rose to an all-time high on Thursday as investors bet economic growth would pick up steam.

Wells Fargo fell 0.8 percent after it set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices. The Dow Jones Industrial Average rose by 29 percent last year and the broader S&P 500 rose 22 percent, rare and breath-taking gains that simply can not be repeated every year. The tech-heavy Nasdaq Composite Index is up by more than 5 percent.

Facebook changes News Feed, investors click on 'sad'
Currently, News Feed has been created to share a mix of "public" content from brands along with posts by friends and family. Facebook founder, Mark Zuckerberg made this known in a post on his verified personal page on the social network on Friday.

Spielberg's 'The Post' feels ripped from the headlines
She is always determined to do that but her demeanor seems to say otherwise, typical of a woman of her era. Hanks throws himself into the role of the gruff, gutsy editor but comes off as Ben Bradlee Lite.

Trump to undergo medical check as critics question his mental fitness
Previous presidential physicals have also mostly excluded mental acuity readings, at least that are disclosed to the public. The APA said it has confidence that Trump's physician will conduct an age-appropriate medical and mental health evaluation.

The S&P 500 is up 112.63 points, or 4.2 percent.

Amazon rose 1.8 percent and provided the biggest boost to the S&P and the Nasdaq.

Friday's gains also followed a strong Dec US retail sales report, which lifted annual retail sales by 4.2%, the biggest increase since 2014.

Wall Street stocks surged to another round of records Friday as earnings season kicked off amid optimism ignited by the USA tax reform. On the Nasdaq, 1,864 issues rose and 920 fell.

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