The S&P 500 index rose nine points, or 0.5 per cent, to close at 1,804.76 Friday. The Dow Jones industrial average climbed 55 points, or 0.3 per cent, to 16,064.77. The Nasdaq gained 22 points, or 0.6 per cent, to 3,991.65
Biotechnology company Biogen Idec surged on reports that it won market exclusivity for its top-selling multiple sclerosis drug in Europe. The stock rose the most in the S&P 500 index.
The stock market is on track for a 27 per cent gain this year. Major indexes have surged as solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors to stocks.