U.S. stocks were higher after the close on Friday, as gains in the Financials, Industrials and Consumer Services sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average gained 0.

The S&P 500 and Dow Jones Industrial Average both hit record closing highs, rising 0.7% and 1%, respectively, while the Nasdaq Composite gained 0.6%. Major indexes have rebounded from a steep selloff

The S&P 500 and Dow Jones Industrial Average powered to new highs on Friday and capped off a winning week as banking behemoths ushered in a promising start to the third-quarter earnings season.

The S&P 500 and the Dow scored record closing highs on Friday, with the big boosts from financial stocks after banks reported strong quarterly results while the latest inflation data fueled expectations for a U.

Stocks have climbed to fresh record highs this week, but in an unusual development, the Cboe Volatility Index -- known as the VIX or Wall Street's "fear gauge" -- has risen, too Typically, higher stock prices help to put pressure on the VIX.

The S&P 500 and the Dow hit record highs on Friday, driven by gains in major banks following third-quarter results, while the latest producer price data backed expectations for a 25-basis-point rate reduction by the U.