U.S. stocks rose on Thursday, led by gains in bank shares, a day after the Federal Reserve raised interest rates for the second time in nearly a decade.
The Fed sees three rate hikes next year instead of the two foreseen in September, partly as a result of the fiscal stimulus expected to hit under President-elect Donald Trump.
Trump's spending plans could trigger inflation and bring about higher interest rates, making banks a likely winning sector in the new administration.
The Dow Jones industrial average .DJI rose 59.71 points, or 0.3 percent, to 19,852.24, the S&P 500 .SPX gained 8.75 points, or 0.39 percent, to 2,262.03 and the Nasdaq Composite .IXIC added 20.18 points, or 0.37 percent, to 5,456.86.
The Dow came within 50 points of hitting 20,000 for the first time.
Asian shares were mixed at Friday, following Wall Street's higher close and the stronger greenback.
Japan's benchmark Nikkei 225 gained 0.79 percent, boosted by the weaker yen. A weaker yen usually supports exporters as it boosts earnings repatriated makes pricing more competitive abroad.
Reference: Reuters, CNBC
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