Major U.S. stock indices powered to another day of fresh record highs on Friday, with the S&P 500 ending the week up three percent. Bobbi Rebell reports.
So many stock market index records this week as the Dow continues to climb towards 20,000 boosted by healthcare and technology stocks in Friday's session. For the week, gains of more than three percent across the board. The fifth week of gains in a row for the Dow. But there are risks, says Kevin Kelly of Recon Capital Partners: SOUNDBITE: KEVIN KELLY, CHIEF INVESTMENT OFFICER, RECON CAPITAL PARTNERS, (ENGLISH) SAYING: "Investors can't just blanket-throw money at the market, because what we are starting to see is a dispersion between the sectors and their performance. You have actually seen a third of the market actually not participate in this. You have seen utilities lag, which have not done well. You've seen technology, which has been market leadership, but you are seeing the leaders emerge. Financials. So, investors need to be very cautious of how they deploy their capital." Rupert Murdoch's Twenty-First Century Fox has made a $14.1 billion bid - that is a 36 percent premium - for the remaining shares of European pay TV group Sky Plc that the U.S. company does not already own. Coca-Cola among the top stocks on the Dow after the company said Muhtar Kent would step down as chief executive and named chief operating officer James Quincey as his successor. European stocks had their strongest week since January of 2015. The major country indexes posting solid gains.