S&P 500, Dow hit new highs ahead of index reshuffle

The Dow Jones Industrial Average rose 78.46 points, or 0.29 percent, to 26,735.44, the S&P 500 gained 3.04 points, or 0.10 percent, to 2,933.79 and the Nasdaq Composite dropped 18.66 points, or 0.23 percent, to 8,009.58.

The S&P 500 and Dow reached record highs on Friday ahead of Monday's major sector reshuffle, capping a week that largely shrugged off trade worries.

The S&P 500 and the Dow were up, with the tech-heavy Nasdaq losing ground. All three were on track to post their second consecutive weekly gains, with the blue-chip Dow on its way to its best weekly percentage gain in over two months.

Telecoms rose 1.4 percent on its last trading day as a discrete major S&P sector, and was the index's biggest percentage gainer.

Shares of security and alarm company ADT Inc jumped for a second straight session and was last up 6.2 percent as Amazon.com introduced its new Alexa Guard service which could notify ADT of disturbances in the home.

Advancing issues outnumbered declining ones on the NYSE by a 1.29-to-1 ratio; on Nasdaq, a 1.20-to-1 ratio favored decliners.

The S&P 500 posted 53 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 31 new lows.

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