S&P 500 hits fresh record high as Wall Street heads for winning week

The S&P 500 reached a new high on Friday and was pacing for weekly gains as traders came back from the Christmas holiday.

The broad market index was last hovering around the flatline, as was the Nasdaq Composite. The Dow Jones Industrial Average traded 52 points, or 0.1%, lower.

For the week, the S&P 500 was up more than 1%, putting the benchmark on track for its fourth weekly advance in five weeks. The Dow and Nasdaq were also up more than 1% week to date.

Wall Street is also coming off a record-setting session, with the S&P 500 setting new all-time intraday and closing highs on Wednesday. U.S. markets were closed Thursday due to the Christmas holiday.