By Ovunc Kutlu
NEW YORK (AA) – Wall Street closed Friday at a new record-high with gains by major American companies and a rise in oil prices.
The Dow added 142 points to finish at 19,756. The S&P 500 rose 13 points to 2,259 and the Nasdaq increased 27 points to end the day at 5,444.
All indexes recorded individual all-time levels while Wall Street closed at its highest level for two consecutive days.
The Dow increased 3.1 percent for the week, posting its fifth consecutive weekly gain. The S&P and the Nasdaq rose 3.1 percent and 3.6 percent, respectively.
Coca-Cola and American Airlines saw their stock prices jump 2.5 percent and 3.3 percent, respectively. Shares of Pfizer rose 2.4 percent and General Motors gained 3.4 percent.
Crude oil prices continued to climb on hopes that an OPEC production cut would trim the glut of supply in the global crude market.
At the final bell, West Texas Intermediate (WTI) was trading at $51.49 a barrel -- a 1.2 percent increase. International benchmark Brent crude was up nearly 0.8 percent to $54.35 per barrel.
President-elect Donald Trump's plans to lower corporate taxes and increase infrastructure spending are expected to boost economic growth, according to experts. Such expectations have led investors to increase their appetite for risk and to take a strong buying position, analysts said.