Roundup: U.S. stocks on a record-set stage for the week

U.S. stocks posted solid gains for the week, as concern about a global economic slowdown in a post-Brexit environment receded amid an array of generally upbeat economic reports.

Both the Dow Jones Industrial Average and the S&P 500 refreshed their record highs for several times during the week.

Investor euphoria was initially ignited by June's strong nonfarm report released last week. It showed that U.S. total nonfarm payroll employment increased by 287,000 in June, well above market consensus of 175,000.

Investors believed that the nonfarm report mollified concerns of an economic slowdown in the United States, as May's payroll rose only 38,000 and notched the fewest monthly job gain in almost six years.

On Monday, U.S. stocks extended previous session's solid gains on the robust jobs data, with the S&P 500 setting its new intraday and closing records for the first time in 2016.

On Tuesday, U.S. stocks rallied for a third straight session, with the Dow and the S&P 500 closing at their new records, boosted by a strong rebound in oil prices.

On Wednesday, U.S. stocks closed mixed as investors digested the Federal Reserve's Beige Book for more clues on the timing of a next rate hike, yet the Dow and the S&P 500 still managed to eclipse Tuesday' s closing records.

On Thursday, U.S. equities regained steam on upbeat economic data, with both the Dow ant the S&P 500 refreshing their record highs once more.

On Friday, U.S. stocks took a pause after record runs, with the three major indices closing narrowly mixed after wavering in a tight range. The Dow, however, extended its record run to a fourth straight day with a 0.05-percent gain.

U.S. economic reports came out mostly positive in the week, which underpinned this round of record runs.

In the week ending on July 9, the advance figure for seasonally adjusted initial claims was 254,000, below market consensus of 265,000.

The Producer Price Index for final demand increased a seasonally adjusted 0.5 percent in June, beating market estimates.

Advance estimates of U.S. retail and food services sales for June increased 0.6 percent from the previous month to 457.0 billion U.S. dollars, beating market consensus of a 0.1-percent gain.

The U.S. Consumer Price Index for all urban consumers increased 0.2 percent in June on a seasonally adjusted basis, the Labor Department reported Friday.

The index for all items less food and energy increased 0.2 percent in June, and it has increased 2.3 percent over the past 12 months.

U.S. industrial production increased 0.6 percent in June after declining 0.3 percent in May, said the Federal Reserve Friday.

"Data this week bolstered expectations for a Q2 rebound. The Q1 slowdown and Q2 rebound pattern is likely to be unbroken this year," said FTN Financial in its weekly economic report.

Meanwhile, fears about a slowdown in global economy after Brexit were fading, as British Home Secretary Theresa May became prime minister Wednesday following an audience with Queen Elizabeth II at Buckingham Palace.

Upbeat quarterly earnings reports from big companies, including JPMorgan Chase & Co., Citigroup Inc., also give the stock market some upward momentum.

For the week, the Dow surged 2 percent, while both the S&P 500 and the Nasdaq jumped 1.5 percent. Enditem