GLOBAL MARKETS-Stocks hit record highs; yields highest since March

The Dow Jones Industrial Average rose 27.7 points, or 0.09%, to 31,458.4, the S&P 500 gained 18.45 points, or 0.47%, to 3,934.83 and the Nasdaq Composite added 69.70 points, or 0.5%, to 14,095.47. The U.S. stock market will be closed on Monday because of the Presidents Day holiday. The pan-European STOXX 600 index rose 0.64% and MSCI's gauge of stocks across the globe gained 0.37%.

NEW YORK: MSCI's gauge of stocks across the globe rose for a 10th straight session on Friday and hit another record high as investors anticipated new fiscal aid from Washington to help the U.S. economy recover, while benchmark U.S. Treasury yields rose to their highest levels since March.

On Wall Street, all three major indexes hit record closing highs, with energy, financial and materials leading gains among S&P sectors as investors snapped up cyclical and under-priced value stocks. All three indexes also posted gains for the week.