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Stocks advanced Friday as Disney's earnings beat and JCPenney's outlook helped offset worries about a drop in consumer sentiment.
Stocks started the day higher, then retreated briefly before rallying toward the closing bell.
The Dow Jones Industrial Average gained 73 points, or 0.7 percent, to close at 10,270.47, its highest close since Oct. 2008. For the week, the Dow gained 2.5 percent.
The S&P 500 rose 0.6 percent and the Nasdaq advanced 0.9 percent today.
Disney was the biggest gainer on the Dow, up 4.8 percent, after the entertainment giant beat expectations for both earnings and revenue after the bell Thursday.
McDonald's and American Express rounded out the Dow's top three. AXP, which is one of Warren Buffett's key holdings, has doubled since the start of the year.
J.C. Penney jumped 6.2 percent after the department-store operator reported its profit fell but raised its full-year forecast.
This came a day after Wal-Mart beat earnings expectations but delivered a light holiday forecast.
Elsewhere in retail, teen chain Abercrombie & Fitch, which has been hard hit by the recession, beat earnings expectations. High-end retailer Nordstrom missed Wall Street's profit target but raised its full-year outlook.
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