U.S. stocks rose to record levels Friday and posted strong weekly gains. The Dow Jones industrial average rose 64.86 points to close at 22.2686.34, a record. Boeing, 3M and Apple contributed the most to the gains. The index also posted an intraday high of 22,275.02 The also notched record highs, advancing 0.2 percent to finish at 2,500.23. Friday also marked the first time the index broke above 2,500. Information technology and financials were among the best-performing sectors. The Nasdaq composite outperformed, closing 0.3 percent higher at 6,448.47; it also managed to an intraday record of 6,464.27. "People are always looking for a reason for the market to go down but stocks keep going up and earnings remain strong," said JJ Kinahan, chief market strategist at TD Ameritrade. Tech stocks kicked off the session as the worst performers before turning around in late-morning trading. Shares of Apple and Facebook both closed higher.

Major U.S. Indexes

The three major indexes finished the week at least 1.4 percent higher. The Dow also notched its biggest weekly gain since the week of Dec. 9. "The market has been digesting its gains in a consolidation phase following Monday's gap up" in the S&P 500, said Katie Stockton, chief technical strategist at BTIG, in a note. "The breakouts that have developed suggest overbought conditions will be absorbed without a significant pullback." The gained 4.2 percent for the week, its biggest weekly rise since June. The jump comes on the back of stronger-than-expected inflation numbers which increased expectations for a Federal Reserve rate hike. The Labor Department said Thursday that the consumer price index rose 1.9 percent last month on a year-over-year basis. Market expectations for a December Fed rate hike are now at 52.9 percent, according to the CME Group's Fedwatch tool.

Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE). Drew Angerer | Getty Images