Key stock indexes on Wall Street swept to record intraday and closing highs on Black Friday thanks to gains in consumer staple and technology shares, while European stocks climbed and a stabilization in U.S. Treasury yields promoted investors to sell the dollar. The Dow, S&P 500 and Nasdaq indexes, as well as the small cap Russell 2000 , hit record closing and intraday highs in thin trading, with the U.S. stock market closing at 1:00 p.m. ET (1700 GMT). For the week, the Dow and Nasdaq gained 1.5 percent, while the S&P 500 rose 1.4 percent. Expectations that U.S. President-elect Donald Trump’s promises of tax cuts, higher infrastructure spending and reduced regulation would benefit certain industries, including banking, industrials and healthcare, have underpinned multiple recent all-time highs in U.S. shares. While positive for stocks, Trump’s surprise victory in the Nov. 8 election has sent U.S. Treasury yields higher as investors bet his pro-growth and inflationary policies will erode the value of U.S. bonds.