The markets kicked off a week of new record highs, trading into record territory for a third straight session. Despite the rally in stocks, West Texas Intermediate crude dipped 1.7% to settle at $52.93 a barrel. Record-breaking moves continued Tuesday as the Dow Jones Industrial average moved up on a variety of economic news. Federal Reserve comments may have impacted trading moves, as Federal Reserve Chairwoman Janet Yellen restated plans for gradual rate hikes but noted that potential uncertainties such as changes in U.S. policy and productivity levels could influence the pace during her policy testimony before the Senate Banking Committee. The S&P 500 posted its longest winning streak since 2013, after data pointed toward continuing growth in the U.S. economy. The Dow, S&P 500 and NASDAQ all closed at records again, extending a rally that has accelerated in February. Analysts believe gains in inflation, retail sales, and comments by the Fed, helped bolster confidence in the U.S. expansion. The markets closed mixed on Thursday when the Dow traded to a fresh record level while the S&P 500 and NASDAQ ended the session fractionally lower, possibly as a result of economic news. Housing starts declined in January, dipping 2.6% to an annual rate of 1.25 million versus expectations of 1.22 million; however, starts were up 10.5% from a year ago. Furthermore, the Department of Labor data showed new jobless claims increased by 5,000 to 239,000 while continuing claims slipped by 3,000 to 2.076 million in the first week of February. Indices ended trading at fresh record highs on Friday. Stocks gained on a variety of economic news, including a tick up in crude oil prices. West Texas Intermediate crude settled at $53.40 a barrel.
