Dow Jones ends week on new high

Dow Jones Industrial Average

The Dow Jones, the main US share index, reached another record high as it breached the 13,900 mark on Friday - a day after setting a fresh record.

The Dow Jones index of blue-chip stocks closed up 45.52 points, or 0.33%, at 13,907.25. It had earlier reached a new intraday trading high of 13,932.29.

Meanwhile the broader S&P 500 also reached a new record as it passed its previous high, set in March 2000.

The highs come despite economic worries about the subprime lending market.

On Friday, investors still seemed positive about earnings and takeover activity.

Retail sales down

Relief that Alcoa would not be chasing a deal with Alcan helped the Dow, as did solid quarterly results from GE.

Its shares moved above the $40 mark and to a five-year high.

A Commerce Department report previously in the day, stating that US retail sales had unexpectedly dropped by 0.9% in June - their biggest decline in almost two years - could not dent confidence.

The S&P closed up 4.8 points, or 0.31%, at 1552.50, while the tech-heavy Nasdaq was also ahead, up 5.27 points, or 0.20%, at 2707.00.

The Dow has achieved a string of record closing highs this year.