Stocks Ended at Record Highs, Oil Settled Mixed

U.S. stocks closed at record highs on Friday as Republicans prepared to outline their final version of the tax bill. The Dow Jones Industrial Average rose 143.08 points, or 0.58%, to 24,651.74. The S&P 500 gained 23.80 points, or 0.90%, to 2,675.81. The Nasdaq Composite added 80.06 points, or 1.17%, to 6,936.58.

Oil prices settled on a mixed note Friday, notching a third-consecutive weekly loss on nagging concerns over rising U.S. crude production. January West Texas Intermediate crude added 26 cents, or 0.5%, to settle at $57.30 a barrel. It lost 0.1% for the week. February Brent shed 8 cents, or 0.1%, to finish at $63.23, suffering a weekly decline of roughly 0.3%.

Republican negotiators in the U.S. Congress put the finishing touches on a sweeping tax overhaul on Friday and picked up support from two more wavering senators as they raced toward votes on final approval next week.