U.S. stocks rose to another set of record highs on Friday, ending the week with a strong set of gains. The S&P 500 Index increased nearly 2% for the week, while the Dow Jones Industrial Average rose 1.8% and the Nasdaq Composite Index jumped 2.3% for the same period. Stock futures have also been on the rise after more positive data from China signaled that the world's second largest economy is expanding.

Here's how the market closed out the week:

S&P 500 Index (SPY  ): +0.39% or +12.81 points to 3,329.62

Dow Jones Industrial Average (DIA  ): +0.17% or +50.46 points to 29,348.1

Nasdaq Composite Index (QQQ  ): +0.34% or +31.81 points to 9,388.94

In Major Stock News, Alphabet (GOOGL  ) continued to grow as it secured its seat in the $1 trillion market capitalization club, with the stock setting a new record at $1,468.99 shortly after market open. Boeing (BA  ) shares met with more trouble on Friday after Bank of America (BAC  ) said that it expects the company to absorb a $20 billion total cost from the 737 Max crisis. Comcast (CMCSA  ) shares increased after the company released details about its new streaming service Peacock.

In U.S. Economic News, Consumer sentiment had unexpectedly dropped in January, according to a survey by the University of Michigan. Those the reading is below consensus expectations, the report is still relatively close to 2019's recent high in May. Housing starts ended 2019 strong, with new homes data skyrocketing 16.9% in December, which was well above the consensus expectations.

In Stock Sector News, all but Energy, who took a dive of -0.66%, and Industrials, who remained with the same performance reading as Thursday, grew on Friday. The sector growth performance for Friday is as follows: Communication Services +0.90%, Utilities +0.76%, Information Technology +0.71%, Materials +0.49%, Financials +0.43%, Consumer Discretionary +0.28%, Consumer Staples +0.25%, Real Estate +0.13% and Health Care +0.06%.

Lastly, in Commodity and Currency News, domestic crude oil prices increased but oil futures suffered a second week of decline. West Texas Intermediate (USO  ) increased almost +0.20%, while Brent Crude (BNO  ) jumped nearly +0.50%. The share price of Gold (GLD  ) also rose on Friday, with the metal's pricing increasing almost +0.30%. Finally, the U.S. Dollar posted a stellar gain on Friday, with the DXY Index jumping +0.33%.