Stocks Ended at Record Highs, Dow Crossed 28,000 for the First Time

U.S. stocks ended at record highs on Friday, with the Dow crossing 28,000 points for the first time after a senior Trump administration official said a trade deal with China was nearing and domestic economic data mostly topped expectations.The Dow Jones Industrial Average jumped 222.93 points, or 0.80%, to 28,004.89. The S&P 500 added 23.83 points, or 0.77%, to 3,120.46. The Nasdaq Composite gained 61.81 points, or 0.73%, to 8,540.83.

Oil futures climbed on Friday to tally a gain for the week, with optimism over phase one of a potential U.S.-China trade deal lifting prospects for energy demand. U.S. benchmark West Texas Intermediate crude for December delivery rose 95 cents or 1.7%, to settle at $57.72 a barrel, ending around 0.8% higher for the week. January Brent crude added $1.02, or 1.6%, to $63.30 a barrel and scored a 1.3% weekly climb.