S&P 500 closes above 5,000 for first time as US inflation cools

Breaking 5,000 is unlikely to slow the index's rise, experts say as reports highlight resilient US economy

US stock markets hit another historic high on Friday, with the S&P 500 closing above 5,000 for the first time.

The broad-based index of the largest and best-known listed companies has been driven higher by a series of reports underlining the US's resilient economy and retreating inflation.