U.S. equities rose on Friday as investors placed bets on a strong holiday shopping season. The hit record highs, rising 0.2 percent to 2,602.42 with information technology as the best-performing sector. Macy's was among the best-performing stocks in the index. The S&P 500 also closed above 2,600 for the first time. The Nasdaq composite climbed 0.3 percent to 6,889.16, posting intraday and closing records as shares of Amazon gained 2.6 percent to a record. The Dow Jones industrial average rose 31.81 points to finish at 23,557.99, with Visa leading advancers on the 30-stock index. The Dow also closed near a record closing high.

Major U.S. Indexes

Long lines of people began forming by Thursday afternoon outside of retailers like Best Buy and Target, among others, as shoppers got ready for Black Friday. Digital sales were also robust, according to Adobe Analytics. The company said U.S. consumers had already spent more than $1.52 billion online by 5 p.m. ET on Thanksgiving evening. "It's all about the shopping numbers," said Peter Cardillo, chief market economist at First Standard Financial. He said they will likely translate into strong consumer spending numbers. "That's good for the economy."

Specialist trader Michael Pistillo Jr. wears a dow 23,000 hat, after the dow briefly traded above 23,000, at his post on the floor of the New York Stock Exchange in New York, October 17, 2017. Brendan McDermid | Reuters