Wall Street racked up a solid week on Friday, with healthcare, technology and consumer stock making gains and investors looking beyond a widely-expected December interest rate hike.
The S&P 500 ended its strongest week in almost a year, while the Dow Jones industrial average erased its year-to-date loss, led by a 5.46 percent jump in Nike, which announced a USD 12 billion share buyback and a 2-for-1 share split.
The sporting goods maker helped send the consumer discretionary sector up 1.23 percent, making it the top gainer among the 10 major S&P sectors.
Healthcare rose 0.74 percent, led by Allergan's 3.45 percent increase. The drugmaker rose on reports that the U.S. Treasury's new tax inversion rules were unlikely to thwart its proposed deal with Pfizer.
Many on Wall Street believe that raising rates next month will be interpreted as a sign of confidence in the US economic recovery.
The Dow Jones industrial average rose 0.51 percent to end at 17,823.81 points and the S&P 500 gained 0.38 percent to 2,089.17. The Nasdaq Composite added 0.62 percent to 5,104.92.
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