Defensive sectors such as utilities and telecoms have led the market’s gains in 2016, while groups such as financials and tech have trailed.
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The Standard & Poor’s 500 index rose 9.86 points, or 0.5 percent, to 2,175.03 on Friday. Hong Kong’s Hang Seng index shed 0.4 percent to 21,904.53. The Nasdaq composite rose roughly two points.
The S&P 500 has been on a steady ride higher since setting a record on July 1, with no days where it has swung by 1 percent during that span.
Of the 103 S&P 500 companies that have reported as of Thursday, 67 percent have beaten estimates, slightly higher than the 63 percent over the whole of a typical quarter, according to Thomson Reuters data.
Many doubts still hang over the market, including the continued drop for corporate earnings and a US economy that is growing only modestly.
Stock markets overseas were mixed after the European Central Bank left interest rates at record lows but also said that it could add stimulus as it assesses the impact of the United Kingdom’s recent vote to leave the European Union.
Earnings news is likely to be in focus on Friday due to the lack of major USA economic data scheduled to be released on the day.
MSCI’s broadest index of Asia-Pacific shares outside Japan.MIAPJ0000PUS fell 0.2 percent, putting some distance between a nine-month high struck late last week.
Philip Morris lost 3.0 percent as the company’s quarterly earnings were hit by lower sales of cigarettes and tighter margins in part due to weaker currencies in its key worldwide markets. That’s what usually happens, because analysts tend to lower their earnings forecasts for companies as each reporting season approaches.
Energy stocks were close to flat after being down as much as 1.1 percent earlier in the day.
Wall Street gained on Wednesday and the S&P 500 and Dow industrials set fresh records, as Microsoft’s strong results boosted the indexes and marked the latest sign that US corporate earnings season may be less dour than feared.
U.S. stocks retreated after a streak of record-setting sessions early Thursday following surprisingly good earnings results from General Motors but a disappointment from Intel.
Goldman Sachs dropped 1.2 percent, with most of its businesses under pressure even as the Wall Street bank reported a higher quarterly profit. The carrier’s revenue fell 4 percent because of the soft global economy, among other factors, but Wall Street was forecasting a steeper drop.
The yield on the 10-year Treasury note held steady at 1.56 percent, while the yield on the 30-year Treasury bond ticked down to 2.28 percent from 2.29 percent late Thursday. The yield on the 30-year Treasury bond fell to 2.28 percent from 2.29 percent. Benchmark U.S. crude rose 29 cents, or 0.6 percent, to close at $44.94 a barrel. Gold fell $10.60, or 0.8 percent, to $1,320.40 per ounce.
Metals prices fell across the board and the dollar edged higher against most major currencies.
Initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 253,000, the Labor Department said Thursday.
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The dollar fell 1.4% against the yen to Yen105.707.
