Stocks rose slightly on Friday as Wall Street wrapped up a solid weekly performance that featured record levels amid strong global economic data and a solid start to the earnings season.

The Dow Jones Industrial Average closed 50.46 points higher, or 0.2% at 29,348.10. The S&P 500 climbed 0.4% to 3,329.62 while the Nasdaq Composite advanced 0.3% to end at 9,388.94. The major averages all hit record highs on Friday.

Friday's gains came after Chinese industrial data for December topped expectations overnight, with production rising 6.9% on a year-over-year basis. The overall Chinese economy grew by 6.1% in 2019, matching expectations. To be sure, that is also the slowest growth rate for the Chinese economy since 1990.

In the U.S., housing starts soared nearly 17% in December and reached a 13-year high. That data follows Thursday's release of better-than-forecast weekly jobless claims and strong business activity numbers from the Philadelphia Federal Reserve.

For the week, the S&P 500 climbed nearly 2% while the Dow advanced 1.8%. The Nasdaq finished the week up 2.3%. Those gains built on the massive stock surge from 2019 and added to this year's strong start. The S&P 500 and Dow are up 3.1% and 2.8%, respectively, year to date. The Nasdaq has bolted more than 4.5% higher in 2020.

The S&P 500 notched its best one-week performance since the final week of August along with the Dow and Nasdaq.

"Risk assets are off to a good start in 2020," said Gregory Faranello, head of rates at AmeriVet Securities, in a note. "Returns last year were off the charts. But when you factor in the late 2018 market corrections across both equities and credit, things look less stellar."