Stocks closed modestly higher on Wall Street Friday as solid gains by technology and communications companies pushed major U.S. indexes to more record highs.

Investors welcomed more strong quarterly results from banks. A report showing a December surge in new home construction provided the latest encouraging snapshot on the U.S. economy. Bond prices fell. The yield on the 10-year Treasury rose to 1.83%.

Friday:

The S&P 500 index rose 12.81 points, or 0.4%, to 3,329.62.

The Dow Jones Industrial Average gained 50.46 points, or 0.2%, to 29,348.10.

The Nasdaq composite index added 31.81 points, or 0.3%, to 9,388.94.

The Russell 2000 index of smaller company stocks dropped 5.58 points, or 0.3%, to 1,699.64.

For the week:

The S&P 500 rose 64.27 points, or 2%.

The Dow gained 524.33 points, or 1.8%.

The Nasdaq added 210.08 points, or 2.3%.

The Russell 2000 picked up 41.99 points, or 2.5%.

For the year:

The S&P 500 is up 98.84 points, or 3.1%.

The Dow is up 809.66 points, or 2.8%.

The Nasdaq is up 416.34 points, or 4.6%.

The Russell 2000 is up 31.17 points, or 1.9%.