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Dozens of companies listed under the index have surpassed analyst expectations through a series of earnings reports this week.

U.S. stocks climbed on Friday, with the S&P 500 and Nasdaq Composite tallying fresh intraday record highs shortly after the opening bell. The latest push higher in stocks followed comments from Federal Reserve Board Gov.

Back to back good economic reports have taken the stock market to new highs. The S&P 500 was up 0.6% and marked a record intraday high of 6,303 points, inching past its previous record by 1 point, according to Dow Jones Market Data.

Stocks turned in a lackluster performance Friday as Wall Street took a breather at the end of the first week of earnings-reporting season.

The good news, according to the analysts, is that market breadth has been improving in recent weeks. The share of stocks in the S&P 500 above their 200-day moving average is 61%, just below the 10-year average of 62%, says Chris Haverland, global equity strategist at the Wells Fargo Investment Institute (WFII).

Wall Street trades mixed on Friday as market a day after the S&P 500 and Nasdaq Composite closed at record highs.