The S&P 500 and the Dow hit record highs on Friday as economy-linked stocks including banks and industrials gained on optimism around strong U.S. economic growth.

S&P 500, Dow at all-time high as banks, industrial rise

PepsiCo Inc has agreed to buy Chinese snack brand Be & Cheery from local jujube maker Haoxiangni Health Food Co Ltd for $705 million, the companies said. The US multinational food and beverage maker said the acquisition of Be & Cheery, which sells snacks from nuts to dried fruits mainly on Chinese e-commerce platforms, was an important step in its goal to become China's leading consumer-focused food and beverage company.

Chinese snack brand Be & Cheery sold to Pepsico for $705 million

German sportswear makers Adidas and Puma both said on Wednesday that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists travelling and shopping in other markets.

Puma, Adidas fear impacts of COVID-19 on China business

Oil prices rose on Wednesday, with Brent gaining for a seventh straight day after a slowing of new coronavirus cases in China eased demand worries and supply was curtailed by a US move to cut more Venezuelan crude from the market.

Oil up on slowing pace of coronavirus, Venezuela sanctions